Rafael Nam
👤 SpeakerAppearances Over Time
Podcast Appearances
The president used a provision that allows him to set tariffs for up to 150 days.
On top of that, stocks are also reflecting fears that AI could hit the economy by leading to big job losses.
The Supreme Court ruled that tariffs the president had imposed under the International Emergency Economic Powers Act were unconstitutional.
That led to decent gains on Friday, and all three indexes ended higher for the week, with the S&P and the Nasdaq advancing more than 1% each.
But it's not over for tariffs.
Trump is determined to reimpose the import taxes the court struck down by using new authorities, with an additional 10 percent tariff on all imports by executive order.
That will still need congressional approval to continue after 150 days, though.
For the markets, that all means the uncertainty about tariffs will likely remain for now.
will conduct some kind of military strike against Iran sent jitters across Wall Street.
All three major indexes fell after oil prices surged amid fears about disruptions in global energy supplies.
crude prices, as well as Brent, which is the global benchmark, rose nearly 2% each.
On top of that, Walmart shares ended the day lower, despite posting better-than-expected earnings.
Investors got concerned about the outlook for the world's biggest retailer, given signs that lower-income shoppers are being cautious about their spending.
will conduct some kind of military strike against Iran sent jitters across Wall Street.