Global Markets Rally as U.S. Supreme Court Strikes Down Tariffs

U.S. and European stocks rallied after the U.S. Supreme Court ruled to nullify Trump's tariffs. The decision sparked gains in major indexes and led to increased gold demand. Treasury yields and inflation data also influenced market movements, while oil and cryptocurrency markets saw slight fluctuations.

U.S. and European stocks soared on Friday following a landmark U.S. Supreme Court decision that overturned tariffs imposed by former President Trump. This ruling, coupled with lackluster GDP figures and hotter-than-anticipated inflation data, invigorated the markets, boosting all three major U.S. stock indices.

European markets also rode the wave of optimism, with the STOXX 600 and MSCI's global stocks index marking significant gains. Gold prices climbed amid escalating U.S.-Iran tensions, while Treasury yields rose in anticipation of economic shifts prompted by the court's decision.

Oil prices remained stable with expectations of delayed U.S. action against Iran. Cryptocurrencies experienced minor gains, highlighting investor reactions to dynamic global economic landscapes following the Supreme Court's tariff ruling.

(With inputs from agencies.)