U.S. Markets Surge After Court Blocks Trump's Tariff Plans

U.S. stocks rallied and the dollar gained against the yen and Swiss franc after a federal court halted President Trump's controversial tariffs, known as 'Liberation Day' tariffs, from being enacted.

The Trump administration plans to contest the ruling, leading to speculation about future economic implications. Analysts indicate a temporary boost in market sentiment with a 1.5% rise in S&P 500 E-mini futures and a broad dollar rally against major currencies.

With the case likely heading to the Supreme Court, market participants are bracing for potential delays in investments and hiring, as the pause in tariffs induces uncertainty. Analysts highlight the ongoing legal battle and its impact on global trade dynamics.

(With inputs from agencies.)