Mumbai, Jan. 22 -- The Dow surged 588.64 points (1.2%) to 49,077.23, the Nasdaq shot up 270.50 points (1.2%) to 23,224.82 and the S&P 500 jumped 78.76 points (1.2%) to 6,875.62.

Volatility on Wall Street arose as traders reacted to President Donald Trump's remarks about his efforts to take control of Greenland. Early gains followed his speech at the World Economic Forum in Davos, where he ruled out using military force, emphasizing negotiations with Denmark instead. Trump said he didn't want or need to use "excessive strength," calling for "immediate negotiations" to discuss Greenland's acquisition by the U.S.

However, morning optimism faded amid ongoing trade concerns between the U.S. and Europe. Buying interest returned in the afterno...