When markets freak out, traders usually don’t sell “what’s actually at risk.”
They sell what’s up the most.
And that’s exactly what Wedbush’s Dan Ives thinks is happening right now as Trump escalates tariff threats against a list of European countries unless they agree to a deal involving Greenland.
He’s at Davos this week and says the tariff situation is basically the dark cloud hanging over the entire conference as Trump is expected to show up tomorrow and speak with both tech and global leaders.
Ives’ core view: the headlines will sound scary, but the outcome probably won’t match the noise.
He compared this to the last year’s tariff cycle, where the bark was worse than the bite, negotiations happened behind the scenes, and tensions eventually cooled.
What’s happening in markets
As of early trading, every name in the Dan IVES Wedbush AI Revolution ETF $IVES ( ▲ 0.5% ) was red.
Not because these companies are directly tied to Greenland, but because risk-off flows don’t really discriminate. When investors de-risk, they hit the high-beta winners first.
That includes some of the biggest AI leaders of this cycle.
Ives highlighted the main ones getting pressured:
Nvidia $NVDA ( ▲ 3.08% )
Microsoft $MSFT ( ▲ 1.42% )
Palantir $PLTR ( ▲ 5.92% )
CrowdStrike $CRWD ( ▲ 2.93% )
Nebius $NBIS ( ▼ 1.89% )
Palo Alto Networks $PANW ( ▲ 0.86% )
Google $GOOGL ( ▼ 2.08% )
Tesla $TSLA ( ▼ 0.23% )
His takeaway
Ives thinks this is the classic setup where quality gets dragged down with everything else, and that creates opportunity.
He expects AI names to take the hit first in a risk-off tape, but says that ultimately, this pullback is “an opportunity to own the tech winners for 2026 and beyond.”
Why this matters
This is basically the same playbook that made retail traders look unstoppable in 2025.
They didn’t outperform by predicting every headline perfectly.
They outperformed by buying the dip in the megacap AI leaders whenever macro noise triggered panic selling.