U.S. stock futures took a hit Sunday night following President Donald Trump’s announcement to raise global tariffs from 10% to 15%. This move comes in the wake of the Supreme Court’s ruling against Trump’s “reciprocal” tariffs, generating increased uncertainty among investors about inflation and global economic growth.
Futures for the Dow Jones Industrial Average plunged by 280 points, or 0.6%, while S&P 500 and Nasdaq 100 futures fell by 0.7% and 0.9%, respectively. Oil prices were also affected, with Brent crude futures dropping 0.7% to $71.26 a barrel and U.S. crude futures slipping 0.8% to $65.95 a barrel.
Trump’s weekend declaration signified an immediate escalation in tariff rates, although it remains unclear if official documentation has been finalized. “I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been ‘ripping’ the U.S. off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level,” Trump stated. He also cautioned that more tariffs could be on the horizon in the coming months.
The latest developments follow a turbulent trading session last Friday, when stocks initially soared after the Supreme Court’s decision to dismantle a significant portion of Trump’s trade policy. The Dow managed to regain over 230 points, finishing the day up 0.5%, after experiencing a brief 200-point slump. The S&P 500 and Nasdaq Composite also saw gains of 0.7% and 0.9%, respectively. Investors had hoped the ruling would ease tensions with U.S. trading partners and potentially result in refunds for companies affected by tariffs, but clarity from the White House is still awaited.
Tim Holland, chief investment officer at Orion Wealth Management, commented on the ongoing situation, noting, “It would seem that Wall Street — and Main Street — are going to be dealing with the issue of trade and tariffs for some time to come.”
In global affairs, Iran continues to be a significant concern for investors, as Trump has urged the nation to negotiate over its nuclear program, emphasizing the potential for “bad things” if an agreement isn’t reached. Adding to market activity, Trump is scheduled to deliver his State of the Union address to Congress on Tuesday.
This week, eyes will also be on Nvidia, as the technology giant prepares to release its earnings report on Wednesday. Nvidia remains one of the few stocks in the “Magnificent Seven” to have achieved gains this year, and analysts will be looking for assurances regarding its ongoing investment strategy in artificial intelligence.
On the economic front, key data releases concerning durable goods and factory orders are anticipated on Monday morning, which could further impact market sentiment. As the landscape evolves, traders and investors are bracing for more developments in the complex interplay of tariffs, trade, and international relations, as these factors continue to shape the financial outlook.
Categories: U.S. Economy, Stock Market
Tags: tariffs, Trump, Dow Jones, S&P 500, Nasdaq, oil prices, Nvidia, Iran, trade relations, economic data
Original Source: https://www.cnbc.com/2026/02/22/stock-market-today-live-updates.html
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Publish Date: 2026-02-23 07:47:00
