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Stocks Settle Higher as SCOTUS Rejects President Trump’s Tariffs
Barchart - Fri Feb 20, 3:33PM CST
The S&P 500 Index ($SPX) (SPY) on Friday closed up +0.69%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.47%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.87%. March E-mini S&P futures (ESH26) rose +0.69%, and March E-mini Nasdaq futures (NQH26) rose +0.86%.
Stock indexes recovered from early losses on Friday and rallied, with the S&P 500 and Nasdaq 100 posting 1-week highs after the Supreme Court struck down President Trump’s global tariffs. The Supreme Court said Mr. Trump exceeded his authority by invoking a federal emergency powers law to impose his "reciprocal" tariffs as well as targeted import taxes on countries to address fentanyl trafficking.
After the Supreme Court's ruling, President Trump said he would impose a 10% global tariff under Section 122 of the Trade Act of 1974, over and above tariffs already being charged. He declared all national security tariffs under Section 232 and existing Section 301 tariffs to be in full force and eff... Read more
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The S&P 500 Index ($SPX ) (SPY ) on Friday closed up +0.69%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed up +0.47%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.87%. March E-mini...
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