Nasdaq Surges as Supreme Court Overturns Trump Tariffs

U.S. stocks rose after the Supreme Court struck down Trump's global tariffs, boosting investor confidence despite earlier weak economic data. The ruling provided relief to affected companies, rallying markets and consumer-focused firms, while raising concerns over potential tariff refunds and their impact on economic pressures.

On Friday, U.S. stocks soared, led by the Nasdaq, following the Supreme Court's decision to strike down President Donald Trump's global tariffs. This ruling offered a sigh of relief to investors who were earlier jolted by lackluster economic data.

The conservative-majority Supreme Court voted 6-3 against the tariffs, which were originally meant as a national emergency measure. These levies, including a 10% baseline duty on all imports, drew sharp criticism from Trump, who dismissed the ruling as a "disgrace" and hinted at a backup plan, according to sources.

The market rally buoyed shares of companies previously impacted by tariffs such as Hasbro, Mattel, and Williams-Sonoma. The decision also impacted sectors like solar energy and homebuilding. While this brought a temporary market lift, risks remain over potential $175 billion in tariff refunds that could strain the U.S. economy.

(With inputs from agencies.)