今夜！史诗级利好！

Core Viewpoint - The U.S. Supreme Court ruled that the tariffs imposed by the Trump administration were illegal, leading to significant market reactions, including a surge in U.S. stock indices and commodities like gold and silver [8][9]. Market Reactions - U.S. stock indices experienced a sharp increase, with the Nasdaq and other major indices rebounding after the court's decision [4][5]. - The dollar index fell sharply, indicating a market response to the Supreme Court ruling [2]. - Gold and silver prices saw significant volatility, with silver rising nearly 5% and gold increasing over 1% [3]. Chinese Market Impact - Chinese assets reacted positively, with the FTSE China A50 index rising nearly 1% and the Chinese yuan strengthening [4]. - The Nasdaq Golden Dragon China Index showed a slight increase, reflecting a recovery in Chinese stocks listed in the U.S. [5]. Legal and Political Context - The Supreme Court's decision was a rare defeat for Trump, as it ruled against the legality of tariffs imposed under the International Emergency Economic Powers Act (IEEPA) [8][9]. - The ruling was supported by a 6-3 majority, with Chief Justice Roberts stating that the President does not have the inherent power to impose tariffs during peacetime [10]. - The ruling has prompted the EU to analyze its implications and advocate for lower tariffs, emphasizing the importance of stable trade relations [9]. Economic Implications - The estimated total amount of tariffs collected under the IEEPA exceeds $175 billion, which may need to be refunded following the Supreme Court's ruling [11]. - A coalition of small businesses welcomed the ruling, calling for a quick and efficient refund process for the tariffs they paid [10].