Global Markets React to Supreme Court Ruling on Trump Tariffs

The Supreme Court's ruling against President Trump's sweeping tariffs has sent shockwaves through global financial markets. US futures dropped sharply, with the S&P 500 losing 0.8% and the Dow Jones Industrial Average falling 0.7%. The Nasdaq composite index was down 1%, a reflection of the uncertainty surrounding trade policy.

Asian markets showed mixed reactions to the news, with Hong Kong's Hang Seng index surging 2.2% while South Korea's Kospi edged lower by 0.1%. Taiwan's Taiex added 0.5% and India's Sensex was up 0.4%, while Thailand's SET jumped 1.1%.

The ruling has heightened concerns about future cryptocurrency regulation, with bitcoin tumbling as much as 5% to below $65,000. The original cryptocurrency, often referred to as 'digital gold', has lost nearly half of its value since hitting a record high in October.