Global markets are facing volatility after President Donald Trump vowed to slap tariffs on eight European nations until the US is allowed to buy Greenland, news that pushed the euro to a seven-week low in late Jan 18 trading.

Mr Trump said he would impose an additional 10 per cent import tariff from Feb 1 on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and Britain, which will rise to 25 per cent on June 1 if no deal is reached.

Major European Union states decried the tariff threats over Greenland as blackmail on Jan 18. France proposed responding with a range of previously untested economic countermeasures.

As early trade kicked off in Asia-Pacific, the euro fell 0.2 per cent to around US$1.1572 (S$1.50), its lowest since November. Sterling also dipped, while the yen firmed against the dollar.

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Firefighters in Karachi searched on Jan 18 for more than 65 missing people after a massive fire tore through a shopping mall in the historic downtown district, killing six and reducing parts of the building to rubble.

Videos showed flames rising from the building as f...