Court Tariff Reversal Sparks Market Turbulence

Market futures wobbled as a federal court’s abrupt reversal on presidential tariffs injected fresh uncertainty into global trade. The Dow Jones Industrial Average futures fell 31 points at Thursday’s open, with S&P 500 and Nasdaq-100 futures slipping 0.16% and 0.21% respectively.

Legal whiplash struck when the Court of International Trade first suspended then reinstated most tariffs within hours—a move that left supply chains frozen and trade desks scrambling. The S&P 500’s 0.9% morning gain evaporated after WHITE House officials floated appeal plans.

Despite the volatility, equities maintain strong monthly gains. The S&P 500 remains up 6% in May, while the Nasdaq’s 10% surge leads major indices. Traders now brace for incoming inflation data that could further roil markets.