Stock market today: Live updates

U.S. Stock futures experienced a downturn Sunday night following President Trump’s announcement of increased global tariffs to 15% – a move triggered by the Supreme Court’s recent decision striking down his previous tariff policies. This escalation has injected fresh uncertainty into the market, raising concerns about inflation and global economic growth.

Dow Jones Industrial Average futures fell 0.6%, whereas the S&P 500 and Nasdaq 100 futures slid 0.7% and nearly 1%, respectively. The energy sector also felt the pressure, with Brent crude futures declining 0.7% and U.S. Crude futures down 0.8%. Even Bitcoin, often seen as a hedge against economic instability, tumbled 5% to below $65,000.

The Supreme Court’s ruling on Friday initially sparked a rally, as investors hoped it would ease trade tensions and potentially lead to refunds for companies impacted by the earlier tariffs. The Dow Jones Industrial Average ultimately closed higher by 0.5%, the S&P 500 gained 0.7%, and the Nasdaq Composite rose 0.9%. However, this optimism was short-lived.

The court determined that the International Emergency Economic Powers Act (IEEPA) does not authorize the president to unilaterally impose sweeping tariffs. Despite this setback, President Trump swiftly responded by announcing higher tariffs, demonstrating a continued commitment to his protectionist trade agenda.

President Trump’s decision to raise tariffs, despite the Supreme Court’s ruling, underscores the unpredictable nature of current trade policy. His statement indicated that further levies are planned in the coming months, leaving businesses and investors bracing for continued volatility. The immediate implementation of the 15% tariffs, though lacking official documentation at the time of reporting, signals a willingness to act decisively.

Tim Holland, chief investment officer of Orion Wealth Management, noted that Wall Street and Main Street will likely be grappling with trade and tariff issues for the foreseeable future.

While tariffs dominate headlines, other factors are also influencing market sentiment. Iran remains a key geopolitical concern, with President Trump urging a nuclear deal while warning of potential consequences if negotiations fail. The upcoming State of the Union address on Tuesday is also expected to provide further insights into the administration’s policy priorities.

Earnings reports, particularly from tech giants like Nvidia, will be closely watched. Nvidia, set to release results on Wednesday, faces pressure to reassure investors about its artificial intelligence investment strategy.

Monday will bring the release of durable goods orders and factory orders data, providing a snapshot of the U.S. Manufacturing sector. These figures will be scrutinized for signs of economic strength or weakness, potentially influencing market direction.

What did the Supreme Court rule regarding Trump’s tariffs?

The Supreme Court ruled that President Trump did not have the authority to unilaterally impose sweeping tariffs under the International Emergency Economic Powers Act (IEEPA).

How did the stock market react to the Supreme Court’s decision?

The stock market initially rallied on Friday after the ruling, but gains were tempered as the day progressed. Futures fell Sunday night after Trump announced increased tariffs.

What is President Trump’s new tariff policy?

President Trump announced a 15% global tariff on goods, up from the previously announced 10%, and indicated that further tariffs may be implemented.