US futures, bitcoin fall, Asian markets mixed after Supreme Court nixes Trump's tariffs
AkamaiAkamai(US:AKAM) BusinessLine·2026-02-23 06:20

Market Reactions - US futures dropped while Asian shares were mostly higher following the Supreme Court's decision to strike down most of President Trump's tariffs [1] - The S&P 500 rose 0.7% to 6,909.51, while the Dow Jones Industrial Average added 0.5% to 49,625.97, and the Nasdaq composite rose 0.9% to 22,886.07 [7] - The future for the S&P 500 lost 0.8%, the Dow Jones Industrial Average dropped 0.7%, and the Nasdaq composite index was down 1% [6] Cryptocurrency Market - Bitcoin tumbled as much as 5%, dropping below $65,000, losing nearly half its value since reaching a record high of $126,210.50 on October 6 [1][2] - The sell-off in Bitcoin has been attributed to investors pulling out of speculative assets and concerns regarding future cryptocurrency regulation [1] Company-Specific News - Akamai Technologies experienced a sharp loss of 14.1% after reporting stronger-than-expected results for the end of 2025 but providing a profit forecast that fell short of estimates [9] - Akamai plans to allocate a larger percentage of its revenue to equipment and other investments, indicating the impact of computer memory shortages due to the AI boom [10] Economic Indicators - Reports indicate slowing US economic growth and accelerating inflation, which have drawn a muted response from traders [10] - The Federal Reserve faces a dilemma over interest rates, with traders still betting on at least two rate cuts this year [11] - Lower interest rates could boost the economy and investment prices but may worsen inflation [12]

Akamai-US futures, bitcoin fall, Asian markets mixed after Supreme Court nixes Trump's tariffs - Reportify