Latest Finance-Economy News
Trump's 10% Global Tariffs Officially Kick In
President Trump’s new 10% global tariffs have taken effect as a key part of his economic policy, announced via the White House. This follows market volatility, with stocks in Asia shrugging off yesterday's AI-related selloff on Wall Street.
U.S. equity futures are slightly higher today, signaling potential relief.
Supreme Court Ruling Ends IEEPA-Based Tariffs Today
U.S. Customs and Border Protection confirms that collection of tariffs under the International Emergency Economic Powers Act (IEEPA) stops on February 24, 2026, per Supreme Court decision on February 20. President Trump signed an executive order on February 20 terminating IEEPA actions, effective as soon as practicable.
Other tariffs under Section 232 and Section 301 remain in place.
Markets Rebound from AI Scare Trade in Asia
Asian stocks rose today, ignoring the AI scare that hammered Wall Street yesterday, where the S&P fell 1% and Nasdaq 100 dropped 1.2%. STOXX 600 futures and S&P futures point higher, offering relief after the dropoff.
The 10-year yield is down to around 4.04%.
AI Warnings Trigger Sharp Drop for IBM and Tech Stocks
Warnings about AI impacts caused payments and software companies to tumble on Wall Street, with IBM experiencing its worst fall in 25 years. The 'Citrini-fueled AI scare trade' dominated trading yesterday.
However, the pressure has eased as stocks recover today.
Standard Chartered Boosts Bonus Pool by 10%
Standard Chartered increased its bonus pool by 10%, while CEO Bill Winters' pay remained flat. This reflects confidence amid market turbulence, with Winters discussing strategy on Bloomberg Daybreak.
The bank also announced plans to buy back additional shares worth $1.45 billion.
Anthropic Launches Up to $6 Billion Share Sale for Staff
AI firm Anthropic has kicked off a share sale for employees valued at up to $6 billion. This comes amid broader AI sector volatility following recent market warnings.
The move highlights ongoing liquidity efforts in the tech space.
U.S. Equity Futures Rise After Yesterday's Selloff
U.S. futures on the S&P and Nasdaq are pointing slightly higher following a 1-1.2% drop in major indices yesterday due to AI concerns. This aligns with positive momentum in European STOXX 600 futures.
Markets appear to be entering a relief phase.
Trump Executive Order Implements Supreme Court Tariff Ruling
President Trump's executive order on February 20, 2026, responds to the Supreme Court's decision invalidating IEEPA as a basis for tariffs. It terminates prior IEEPA-based duties, with collection ending February 24 via CBP guidance.
The order clarifies timing left open by the court.
CBP Issues Guidance on Ending IEEPA Tariff Collections
U.S. CBP's CSMS Message #67834313 on February 22 specifies that IEEPA tariff assessments cease starting February 24, 2026. This follows the Supreme Court's February 20 ruling against IEEPA tariff authority.
Importers are advised on transition for ongoing shipments.
Standard Chartered Signals Confidence with Dividend Hike and Buybacks
Standard Chartered announced a significant dividend increase and $1.45 billion share buyback, demonstrating faith in future earnings. CEO Bill Winters emphasized the bank's strong position during interview.
This occurs against a backdrop of global tariff shifts.
European Markets Eye Higher Open Amid Tariff News
STOXX 600 futures are pointing higher as European traders react to U.S. tariff developments and AI recovery. This contrasts with Wall Street's prior session losses tied to tech warnings.
Broader sentiment shows tentative optimism.
Section 232 and 301 Tariffs Unaffected by IEEPA Ruling
While IEEPA tariffs end, additional duties under Section 232 of the Trade Expansion Act and Section 301 of the Trade Act persist. CBP's message highlights continuity of these regimes post-ruling.
Businesses must adjust strategies accordingly.