Shares slid on Monday morning within the first buying and selling session since President Donald Trump introduced a brand new 15% tariff on most imported items, intensifying his effort to impose levies that have been struck down by the Supreme Courtroom.
The Dow Jones Industrial Common fell 650 factors, or 1.3%, whereas the S&P 500 dropped 0.6%. The tech-heavy Nasdaq declined 0.5%.
Cryptocurrency costs tumbled in early buying and selling on Monday. The value of bitcoin fell 2.2%, placing it at about $66,075.
Gold costs jumped to their highest degree in three weeks as traders sought the safe-heaven asset amid heightened uncertainty.
In a social media submit on Monday, Trump reiterated his criticism of the Supreme Courtroom.
The Supreme Courtroom, Trump stated, “by accident and unwittingly gave me, as President of the US, way more powers and energy than I had prior.”
Trump retains the facility to levy a 15% tariff for as much as 150 days below the Commerce Act of 1974, which permits the president to deal with commerce disparities with different nations.
President Donald Trump speaks throughout a press convention within the Brady Press Briefing Room of the White Home in Washington, February 20, 2026.
Aaron Schwartz/Getty Pictures
Hours after the Supreme Courtroom ruling on Friday, Trump stated he would signal an government order enacting a brand new 10% “international tariff,” invoking authority below Part 122. On Saturday, Trump escalated the tariff to fifteen%.
Trump vowed to provoke investigations as a part of an effort to impose extra tariffs over the approaching months.
“It is a bit longer course of,” Trump stated on the White Home on Friday. “I attempted to make issues easy however they wouldn’t allow us to do this.”
The excessive courtroom dominated that the Worldwide Emergency Financial Powers Act (IEPPA) doesn’t authorize Trump to impose levies, nullifying a significant swathe of country-specific tariffs issued by the president on “Liberation Day,” in addition to a ten% tariff positioned on all imports and a bunch of different measures.
Some tariffs issued by Trump might be unaffected by Friday’s ruling, together with a 50% levy on all metal and aluminum merchandise.
