Asian Markets Rally as Court Blocks Trump's Tariffs

In an unexpected move, Asian markets soared following a U.S. federal court decision obstructing President Trump's proposed tariffs. The Manhattan-based Court of International Trade ruled that Trump had overstepped his authority by applying broad tariffs to countries with trade surpluses with the U.S.

The White House, facing a potential uphill legal battle, swiftly appealed the verdict, possibly escalating the matter to the Supreme Court. Financial analysts, however, remain optimistic, anticipating that this development could deter the implementation of the steep tariffs Trump threatened.

The news had a worldwide ripple effect on the markets, causing indices like Japan's Nikkei and South Korea's shares to post significant gains. In related news, Nvidia's strong earnings further boosted Nasdaq futures, while actions by OPEC+ and U.S. policies hinted at broader economic impacts.

(With inputs from agencies.)