A US court ruling blocking President Trump's sweeping tariffs under the 1977 International Emergency Economic Powers Act has been welcomed by global financial markets. Futures jumped, oil prices rose, and the US dollar strengthened. While the White House appealed, investors reacted positively to the temporary reprieve from trade war uncertainty. Major indices like the Dow and S&P 500 saw significant gains, mirroring positive responses in Asian and European markets. The ruling, however, provides only a temporary respite, with the long-term outcome uncertain.

Prepared by Christopher Adams and reviewed by editorial team.