On Thursday, after the Court of International Trade blocked President Donald Trump from imposing some of his harshest tariffs on foreign countries the day before, stock markets around the world soared.
“Futures for the S&P 500 index jumped 1.5 percent, suggesting that stocks will open sharply higher when trading begins in New York,” the New York Times reported, adding that stocks rose in France, Germany, Hong Kong, Japan, and South Korea. The dollar rose on Wednesday after the ruling. The yield on the 30-year Treasury note climbed back over 5%. Chip giant Nvidia’s stock rose on Wednesday by more than 6%.
The Court’s ruling implies that ultimately “extreme tariffs and rapidly changing tariffs are less likely to happen going forward, which reduces uncertainty somewhat,” analysts at Panmure Liberum, a British investment bank, opined. But they cautioned that in the immediate…
