Wall Street keeps calm after the Supreme Court strikes down Trump's tariffs

Market Reaction - Wall Street experienced a calm reaction following the Supreme Court's decision to strike down President Trump's tariffs, with the S&P 500 rising by 0.7% [1] - The Dow Jones Industrial Average increased by 230 points, or 0.5%, while the Nasdaq composite rose by 0.9% [2] - The muted market reactions were likely due to expectations of the ruling, leading to tentative trading as investors assessed long-term implications [2] Tariff Developments - Despite the Supreme Court ruling, tariffs are not being eliminated; Trump indicated plans to impose a 10% global tariff through an executive order, which could last for 150 days [3][4] - Trump mentioned that investigations would be conducted to establish fair tariffs on other countries during this period [5] Investor Sentiment - The ruling did not significantly lower inflation expectations, which could have led to lower Treasury yields; instead, yields remained relatively steady [6] - Ralph Lauren's stock initially rose by 3.3% after the ruling but later fluctuated, ultimately finishing with a 2.2% gain, reflecting past concerns over tariffs impacting profits [7]