{"id":488844,"date":"2026-02-21T01:09:12","date_gmt":"2026-02-21T01:09:12","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/488844\/"},"modified":"2026-02-21T01:09:12","modified_gmt":"2026-02-21T01:09:12","slug":"stock-markets-rebound-after-trumps-global-tariffs-struck-down-national","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/488844\/","title":{"rendered":"Stock markets rebound after Trump\u2019s global tariffs struck down – National"},"content":{"rendered":"

U.S. stocks advanced on Friday and Treasury yields rose as investors absorbed a ruling by the U.S. Supreme Court striking down President Donald Trump\u2019s tariffs<\/a>, while also parsing a weak GDP report and higher-than-expected inflation data.<\/p>\n

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All three major U.S.\u00a0stock\u00a0indexes moved higher immediately following the Supreme Court\u2019s decision. All three indexes posted gains on the week.<\/p>\n

Europe\u2019s STOXX 600 closed at an all-time high following the ruling while gold prices continued to advance.<\/p>\n

Canada\u2019s S&P\/TSX composite index was up 222.53 points at 33,817.51, lifted by tech stocks.<\/p>\n

The Supreme Court\u2019s 6-3 ruling\u00a0struck down Trump\u2019s sweeping tariffs<\/a>\u00a0enacted under a law meant for use in national emergencies, and has widespread implications for the global economy.<\/p>\n

\u201cThere\u2019s a belief that tariffs have actually hurt the economy, and maybe we see that in these weak GDP numbers that we got earlier today,\u201d said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York.<\/p>\n

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\u201cStriking down of these tariffs will benefit corporate bottom lines, corporate earnings,\u201d Ghriskey said, adding that the decision \u201chas ramifications across the economic spectrum but there\u2019s got to be a lot of disruption, and we\u2019ll have to see the reaction from the White House.\u201d<\/p>\n

Trump\u00a0angrily responded\u00a0to the court\u2019s ruling<\/a> that he did not have the power to unilaterally set tariffs on imports, vowing a new 10% levy.<\/a><\/p>\n

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Before Wall Street\u2019s opening bell, the U.S. Commerce Department released its advance take on fourth-quarter GDP, which showed the U.S. economy grew at a sharply decelerated 1.4% on a quarterly annualized basis in the last months of 2025.<\/p>\n

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Its separate Personal Consumption Expenditures price index, the inflation gauge favored by the U.S. Federal Reserve, revealed\u00a0price growth heated up\u00a0in December.<\/p>\n

The Dow Jones Industrial Average rose 230.81 points, or 0.47%, to 49,625.97, the S&P 500 rose 47.62 points, or 0.69%, to 6,909.51 and the Nasdaq Composite rose 203.34 points, or 0.90%, to 22,886.07.<\/p>\n

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European\u00a0stocks\u00a0reached a new record high after the Supreme Court ruling and marked their biggest weekly jump since early January.<\/p>\n

MSCI\u2019s gauge of stocks across the globe rose 5.73 points, or 0.55%, to 1,052.94.<\/p>\n

The pan-European STOXX 600 index rose 0.84%, while Europe\u2019s broad FTSEurofirst 300 index rose 20.96 points, or 0.84%.<\/p>\n

Emerging market stocks rose 5.04 points, or 0.32%, to 1,568.38. MSCI\u2019s broadest index of Asia-Pacific shares outside Japan closed higher by 0.18%, to 802.69, while Japan\u2019s Nikkei fell 642.13 points, or 1.12%, to 56,825.70.<\/p>\n

John Zechner, chairman and lead equity manager at J. Zechner Associates, said equity markets were \u201cclimbing a wall of worry\u201d on Friday.<\/p>\n

\u201cIt was sort of expected that they might vote (the tariffs) down \u2026 and it\u2019s just interesting the market almost seems immune to this kind of stuff now,\u201d Zechner said.<\/p>\n

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Gold prices\u00a0advanced as investors digested the soft GDP report and Trump\u2019s announcement of fresh tariffs following the Supreme Court ruling. Rising U.S.-Iran tensions also supported demand for the safe-haven metal.<\/p>\n

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Spot gold rose 1.92% to $5,095.19 an ounce. U.S. gold futures rose 1.91% to $5,071.00 an ounce.<\/p>\n

U.S. Treasury yields rose following the Supreme Court\u2019s ruling. The yield on benchmark U.S. 10-year notes rose 0.8 basis points to 4.083%, from 4.075% late on Thursday.<\/p>\n

The 30-year bond yield rose 2 basis points to 4.7244% from 4.704% late on Thursday.<\/p>\n

The 2-year note yield, which typically moves in step with interest rate expectations for the Federal Reserve, rose 1 basis point to 3.48%, from 3.47% late on Thursday.<\/p>\n

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The dollar\u00a0turned lower after the top U.S. court\u2019s tariff decision, but was still on track for its biggest weekly gain since October.<\/p>\n

The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.14% to 97.75, with the euro up 0.11% at $1.1785.<\/p>\n

Against the Japanese yen, the dollar strengthened 0.04% to 155.03.<\/p>\n

In cryptocurrencies, bitcoin gained 1.16% to $67,690.43. Ethereum rose 1.09% to $1,969.21.<\/p>\n

Crude prices\u00a0stabilized as markets expected U.S. military action against Iran would not happen until next week, but remained poised to notch weekly gains.<\/p>\n

U.S. crude fell 0.06% to settle at $66.39 per barrel, while Brent settled at $71.76 per barrel, up 0.14% on the day.<\/p>\n

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\u2014With files from the Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"U.S. stocks advanced on Friday and Treasury yields rose as investors absorbed a ruling by the U.S. Supreme…\n","protected":false},"author":2,"featured_media":488845,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,8334,46,196597,2845,6495,3275],"class_list":["post-488844","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-donald-trump-tariffs","tag-economy","tag-u-s-gdp","tag-u-s-news","tag-wall-street","tag-world"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/488844","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=488844"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/488844\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/488845"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=488844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=488844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=488844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}