Public Markets 8-Hour Briefing
×Market Volatility and Tariff Impact
US stock futures dropped on Monday amid renewed tariff turmoil from the Trump administration as markets brace for Nvidia earnings. The Supreme Court's decision to strike down Trump's emergency tariffs has created uncertainty, with US customs announcing it will stop collecting those tariffs starting February 24. This legal setback has renewed concerns about American policymaking, causing traders to sell off dollars and US stocks. The tariff unpredictability is causing significant market ripples as investors reassess trade strategies.
Regional Market Performance
Asian markets showed mixed reactions to the tariff uncertainties. While Asian Markets largely shrugged off US tariff concerns, with South Korea and Taiwan setting records, other regions were more volatile. China Stocks in Hong Kong jumped after the US Court struck down tariffs, positioning China as one of the beneficiaries of the ruling. Meanwhile, Samsung shares hit a record high on speculation about its relationship with Nvidia. In Thailand, Delta Electronics became the country's first $100 billion company following the tariff ruling, which improved demand outlook for its AI cooling equipment.
Commodities and Currencies
The dollar continued its decline as tariff uncertainty persisted. Copper advanced for a second day as the tariff muddle weakened the dollar, while gold prices extended gains on fresh tariff jitters. Gold climbed after three weekly gains as heightened uncertainty over US trade policy unsettled markets. In the energy sector, oil prices slipped on US-Iran nuclear talks and tariff uncertainty, though natural gas jumped due to a powerful winter boosting heating demand. The Singapore dollar strengthened slightly as traders digested US tariff developments.
Key Corporate Developments
Several companies saw significant movements following the tariff developments. IDFC First Bank tumbled 15% after India flagged account gaps, while Almirall crossed €1 billion in sales as its eczema drug Ebglyss tripled in FY25. Chubu Electric is in advanced talks to buy a stake in India's Continuum Green Energy at a valuation of at least $1 billion. In the private markets, KKR agreed to buy a majority stake in XCL Education Holdings in a $1.3 billion deal, demonstrating continued deal flow despite broader market uncertainty.