Public Markets 8-Hour Briefing
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The S&P 500 bloomberg.com fell as tariff uncertainty rattled investors, with gold bloomberg.com jumping to new heights while the dollar slid against major currencies. Copper bloomberg.com remained supported as traders weighed shifts in US trade policy, while European stocks investing.com retreated on renewed trade uncertainty.
Trade Policy
The US Supreme Court struck down President Trump's emergency tariffs, prompting him to impose a 15% global duty instead. US Customs investing.com announced it would stop collecting these tariffs from February 24, though businesses bloomberg.com face more litigation in seeking refunds. The EU finance.yahoo.com stated it would accept no increase in US tariffs, emphasizing "a deal is a deal."
Regional Markets
Asian stocks wsj.com shrugged off US tariff uncertainties, with South Korea and Taiwan setting records. Chinese stocks bloomberg.com in Hong Kong rallied after the court ruling, while the Thai baht bloomberg.com strengthened as a tariff reset improved demand outlook for AI equipment. Delta Electronics became Thailand's first $100 billion company following the ruling.
Corporate Developments
Johnson Matthey ft.com slashed the price of its catalyst technologies unit being sold to Honeywell wsj.com to £1.3 billion from £1.8 billion. Renault wsj.com will acquire Volvo AB's 45% stake and CMA-CGM's 10% stake in electric-van joint-venture Flexis. Rolls-Royce investing.com is seeking UK funding for a £3 billion engine project as it plans to re-enter the narrow-body market.
Commodities & Energy
Oil prices investing.com slipped amid US-Iran nuclear talks and tariff uncertainty, though Fesharaki bloomberg.com warned an open conflict could push prices to $75-$90 per barrel. US natural gas bloomberg.com jumped on a powerful winter storm boosting heating demand while LNG exports also climbed. Gold ft.com has entered a "storybook stage" with prices far above fundamental levels.