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HomeMarket NewsS&P 500 rises to the day's high as Trump decides to overrule SC
The yields on the benchmark 10-year sovereign bonds cooled nearly 10 basis points after Trump's decision to impose additional tariffs.
By CNBCTV18.com February 21, 2026, 1:18:19 AM IST (Updated)
The S&P 500 surged to near the day's high after the US President decided to reverse the Supreme Court's decision to strike down the tariffs imposed on America's trading partners.
The yield on the benchmark 10-year bonds fell as much 10 basis points after moving close to 5% after the SC decision earlier. The yield fell to 4.09% as of 12:33 am (IST) on Feb 21, after rising as high as 4.107% earlier in the day.
The S&P 500 moved up 0.6%, while the Nasdaq Composite rose 0.9%. The Dow Jones Industrial Average added 139 points, or 0.3%, recovering from a 200-point loss earlier in the session on disappointing economic data.
Shares of Amazon, which imports the bulk of its products from China, jumped 2% after the SC called the earlier tariffs illegal.
“We are not revising our US economic outlook as we expect tariffs to remain through other avenues,” TD Securities strategists told Bloomberg.
The markets were also affected by macro-economic data earlier. The US' gross domestic product (GDP) grew at an annualised rate of 1.4% in the fourth quarter, compared to 4.4% a year earlier. Overall, the economy expanded 2.2% last year. Core inflation rose 0.4% in December, the sharpest rise in nearly a year.
The article will be updated with more details soon.
(Edited by : Sriram Iyer)
First Published:
Feb 21, 2026 12:35 AM
IST
