Live in the Nazak markets, I'm in the heart of New York City's Times Square.

This is Fast Money. Here's what's on tap tonight. A market meltdown on a threat of new tariffs, sending major indices to their worst day in more than three months. One high-flying tech stocks leading the way lower. How much more pain is there to come? And how do you position yourself right now? We'll get some answers. In a big night of earnings, Netflix shares dropping despite a revenue beat what is driving the move, the latest of the streamers bid for Warner Brothers Discovery. And that's not the only report we were watching, shares of the United Airlines taking flight. We'll get the details behind the numbers from CEO Scott Kirby later on this hour. I'm Melissa Lee, come to you live from Studio B at the NASDAQ. On the desk tonight, Tim Seymour, Karen Feinerman, Dan Nathan, and Guy Adami. We start off at the market route coming after President Trump's threatened new tariffs on European countries over the weekend as part of his push to take control of Greenland. Stocks closing year-session lows with major averages, each putting in their worst days since October 10th.

The S&P sliding 2%, erasing its year-to-date gains. The Dow shedding 870 points.

While tech led the losses with the NASDAQ down 2.4%.

The magnificent 7 collectively dropping 3% today, that's an aggregate market cap loss of nearly $650 billion. That's more than the size of Visa.

And while stocks pull back, longer-dated treasure yields are on the rise at benchmark 10-year yield,

hitting its highest level since August, the dollar index dropping, while gold and silver settled at fresh records.

And Bitcoin slipping almost 4 percent now back below 90K. Also today, President Trump

joined the White House press briefing room to mark one year since taking office. Amon Javvers is in

Washington with all those headlines. Amen. Yeah, Melissa, that's right. The president spoke for

about an hour and 45 minutes in the briefing room, reliving what he views as the highlights of the past year on a whole

host of different topics. But take a look at this graphic, which shows the timeline here for the

tariffs that the president announced over the weekend. February 1st, he says it will be a 10%

tariff on all goods, that is goods involved with countries that sent their forces to Greenland

to protect it from a potential U.S. invasion.

On June 1st, he said that will increase to 25 percent, and he said those tariffs will be

charged until a deal is reached for the United States to purchase Greenland.

So at this point, that's what the president says is going to happen.

But remember, Melissa, we saw the president announce tariffs last week. He announced 25% tariffs

on countries that are doing business with Iran, including potentially China. The president

said several times last week that those tariffs were in effect. They are not. We have not

seen those noticed in the federal register yet. So nobody is collecting the tariffs that the President said went into effect last week. It's not clear whether these will go into effect or whether the President will be able to come to some terms tomorrow. But he does leave tonight to head out to Davos and he is expected to address the World Economic Forum tomorrow. And he's also going to talk to CNBC tomorrow. So all of this coming to ahead as the president goes sort of eyeball to eyeball with those European leaders in Davos tomorrow, will the president be in a deal-making mood or will the president be in a military action type of mood? We just don't know which President Trump we're going to see tomorrow. so we'll keep our eyes on it. On what basis, amen, is President Trump threatening these tariffs

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