Daniel Bach

And I'm Daniel Bach for The Wall Street Journal.

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Here's your morning brief for Monday, February 23rd.

I'm Daniel Bach for The Wall Street Journal.

Mexico's military killed the country's most powerful drug kingpin, Nemesio Mencho Oseguera.

He was the leader of the Jalisco New Generation cartel, and the U.S.

had placed a $15 million bounty on him.

His killing marks the most significant operation yet in Mexico's recent crackdown on cartels, and sparked a wave of violence across the country, including a near shutdown of Mexico's second-largest city, Guadalajara.

President Trump said over the weekend that he would increase a global tariff to 15% that will replace many of the duties ruled illegal by the Supreme Court on Friday.

Trump said the new level up from 10% would take effect immediately.

Meanwhile, many CEOs spent the weekend holed up in company war rooms as they try to figure out what the latest developments mean, if billions in paid levies can be reclaimed, and how to proceed without ruffling feathers in the Trump administration.

And more than 9,000 flights scheduled for yesterday and today have been canceled due to a major winter storm hitting the U.S.

East Coast, with Boston and New York airports affected the most.

According to the National Weather Service, very heavy snowfall and strong winds will continue to batter the Northeast today.

Asian stocks ended the day mostly higher, European stocks are mixed in midday trading, and U.S.

stock futures are down as uncertainty over the latest twists in U.S.

trade policy weighs on investors.

And we have a lot more coverage of the day's news on the WSJ's What's News podcast.