Global Stocks Surge Amid Court Drama Over Trump Tariffs

Global stock markets experienced a lift on Thursday as investors absorbed the implications of a court ruling against former President Donald Trump's tariffs. The U.S. Court of International Trade decreed that Trump's broad tariffs overstepped his authority, prompting a swift appeal by the administration to temporarily reinstate them.

Wall Street reacted positively, with all three main indexes closing higher after a previous downturn. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all reported gains. In contrast, Europe's STOXX 600 finished slightly lower while Asian markets saw varied results.

Following the court decision, the U.S. dollar weakened against several major currencies, illustrating market apprehension. Additionally, data on increasing unemployment claims further pressured the dollar. Commodity markets saw a decline in oil prices amidst concerns over possible U.S. sanctions on Russian oil, while gold prices rose, aided by softer employment data.

(With inputs from agencies.)