Market Jitters as US Court Ruling Challenges Trump Tariffs

European shares rose while Asian markets mostly fell amid uncertainty over a US court blocking President Trump's tariffs. Key European indices gained, but Asian markets and US futures faced declines. The court's ruling questioned the legality of some tariffs, leaving global trade prospects uncertain.

Stock markets around the world responded with mixed signals as European shares slightly increased, juxtaposed with Asian markets closing mostly lower. This volatility follows a pivotal US court decision blocking many of President Trump's extensive tariffs, generating widespread uncertainty about future economic policies.

The European market showed moderate resilience; France's CAC 40 and Germany's DAX recorded upticks of 0.2% and 0.6%, respectively. Meanwhile, the UK's FTSE 100 also climbed by 0.6%. In contrast, Japan's Nikkei 225 fell 1.2%, influenced partly by higher-than-expected inflation figures in Tokyo, potentially prompting an interest rate hike.

The US Court of International Trade's ruling challenges the Trump administration's use of the 1977 International Emergency Economic Powers Act for imposing tariffs. While some tariffs remain under appeal, the ruling casts a shadow over global trade dynamics. Oil prices showed minor gains, and currency exchanges reflected subtle shifts.

(With inputs from agencies.)