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2026-02-21 00:54:40
[US Stocks Open Lower Due to Economic Data, Major Indexes Rise After Trump's Tariffs Are Overturned] Stocks rose while bonds and the dollar fell after the US Supreme Court rejected President Donald Trump's global tariff measures, as markets assess the subsequent impact of the ruling on US trade policy. More than 300 stocks in the S&P 500 rose, pushing the index further into its weekly gains. The Supreme Court ruled that Trump's implementation of "reciprocal" tariffs globally under the Federal Emergency Management Act (FEMA) and the government's imposition of specific import taxes to combat fentanyl smuggling exceeded his legal authority. Brian Jacobsen of Annex Wealth Management stated, "This means the Trump administration will shift towards country-specific and industry-specific tariffs, which will take longer to implement." Jacobsen also noted that Trump could introduce temporary, comprehensive tariffs, but the amount and duration would be subject to stricter restrictions, allowing him more time to complete the legal procedures for tariff implementation.
