Market Volatility Continues as Supreme Court Strikes Down Trump's Tariffs
Global markets reacted to the Supreme Court's decision to strike down most of President Donald Trump's tariffs, with U.S. futures falling and Asian markets mostly climbing. Hong Kong's Hang Seng index surged 2.2%, while the Shanghai Composite index lost 1.3%. South Korea's Kospi gained 1.1%, and Australia's S&P/ASX 200 shed 0.4%. Taiwan's Taiex jumped 1.4%, reflecting the winners-and-losers effect of the tariff policy changes.
The future for the S&P 500, Dow Jones Industrial Average, and Nasdaq composite index all dropped, indicating uncertainty in the markets following the Supreme Court's ruling. Despite the ruling against Trump's tariffs, the president stated that he would explore other avenues to impose taxes on imports from other countries, causing further uncertainty among traders.
On Wall Street, Akamai Technologies reported stronger results for the end of 2025 but gave a profit forecast for the upcoming year that fell short of estimates, leading to a 14.1% drop in its stock price. The reports of slowing U.S. economic growth and accelerating inflation did not significantly impact investors' expectations for the Federal Reserve's interest rate decisions.
In early Monday trading, U.S. benchmark crude oil and Brent crude prices declined, while the U.S. dollar slipped against the Japanese yen and the euro rose. The price of gold and silver also saw increases, reflecting the ongoing market volatility and uncertainty surrounding global economic conditions.