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Trump Imposes 15% Global Tariff After Supreme Court Voids Reciprocal Trade Barriers

President Donald Trump escalated trade tensions Monday by invoking Section 122 of the Trade Act of 1974 to impose a blanket 15% tariff on all imports, one day after the Supreme Court ruled 6-3 that his reciprocal tariffs exceeded executive authority under the International Emergency Economic Powers Act. Major trading partners, including the European Union, warned that the new levies could jeopardize previously negotiated trade agreements, sending U.S. equity futures sharply lower and driving safe-haven assets higher.

U.S. Business Activity Growth Slows Significantly in February, Signals Economic Softening

New data from S&P Global shows that U.S. business activity expanded at the slowest pace in nearly a year in February, reflecting reduced manufacturing orders and slower services growth. While the economy remains in expansion territory, the slowdown could weigh on sentiment and corporate investment plans if the trend persists, particularly in cyclical sectors tied to industrial production and hiring.

Tax Foundation Report Confirms Tariffs as Largest Tax Hike Since 1993, Weighing on 2026 Outlook

A comprehensive analysis released today by the Tax Foundation reveals that the cumulative impact of recent US tariffs represents the largest tax increase as a share of GDP in over three decades. The report estimates an average annual burden of $1,300 per US household in 2026, with businesses and consumers bearing nearly 90% of the costs. This structural drag is increasingly reflected in the downward revision of earnings guidance across the industrial, consumer discretionary, and healthcare sectors.

Tariff Burden on U.S. Households Hits $1,300 as Corporate Guidance Flags Mounting Trade Policy Headwinds

Tax Foundation analysis confirms that President Trump's cumulative tariff regime now represents the largest U.S. tax increase as a share of GDP since 1993, imposing an average annual burden of $1,300 per household in 2026. With Goldman Sachs estimating American companies and consumers bear over three-quarters of tariff costs, earnings guidance across industrials, consumer discretionary, and healthcare is increasingly reflecting this structural drag on margins and consumer demand.

Stock Markets Close Mixed on Presidents' Day Eve as AI Disruption Concerns Offset Inflation Relief

U.S. equity markets ended Friday's session with minimal movement despite better-than-expected January inflation data, as the S&P 500 edged up 0.05% while the Nasdaq declined 0.22%. Persistent concerns about artificial intelligence disrupting business models across software, financial services, and logistics sectors prevented a sustained rally, with investors rotating into defensive stocks and rate-sensitive sectors ahead of the Presidents' Day holiday closure.

Steel Stocks Slip on Rumored Tariff Rollback

Shares of major U.S. steel producers fell as concerns mounted that the White House may roll back tariffs on imported steel and aluminum implemented in 2025. Investors are pricing in a potential reduction in protection for domestic producers, weighing on earnings outlooks for companies that had benefited from elevated commodity prices and strong domestic demand.

Technology Stocks Rally as Markets Add $1 Trillion to S&P 500 Valuation

U.S. equity markets extended Friday's powerful rebound on Monday, with technology stocks leading gains as chipmakers climbed 1.3% and software firms advanced more than 5% over two sessions. The S&P 500 edged higher following a surge that added $1 trillion in market capitalization, while the Dow Jones Industrial Average consolidated near the historic 50,000 milestone.

Goodyear and Galaxy Digital Announce Quarterly Financial Results

On Feb. 3, 2026, Goodyear Tire & Rubber and Galaxy Digital released quarterly and full-year earnings results, signaling an important earnings season milestone for both industrial and digital asset sectors. Investors will scrutinize profit margins, asset growth, and guidance as these results shape sector narratives in an increasingly complex macroeconomic backdrop.