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Global markets rejoice after Trump's sweeping tariff rollout gets blocked by a U.S. court

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The U.S. Court of International Trade found the 1977 International Emergency Economic Powers Act does not authorize the use of tariffs.
On May 29, 2025, global stock markets experienced a significant surge after a U.S. federal court blocked former President Donald Trump's proposed tariff plans, which were seen as potentially detrimental to international trade. The ruling, which came as a relief to investors worldwide, led to a sharp rise in stock indices across major markets, including a 2.5% increase in the S&P 500, a 3% jump in the Dow Jones Industrial Average, and gains in European and Asian markets. Analysts attributed the positive market reaction to the court's decision, highlighting the averted risk of escalating trade wars and the preservation of current trade agreements. The decision is expected to stabilize global trade relations and boost investor confidence in the near term.

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[ https://fortune.com/2025/05/29/global-stocks-markets-rejoice-after-court-blocks-trump-tariff-plans/ ]