White house to challenge Trump tariff block as stock markets surge
The US stock market is set to surge after a federal court blocked President Donald Trump 's global tariffs.
Ahead of trading, US futures indicate a 1.5% climb for the S&P 500 and nearly 2% for the Nasdaq following the tariff block announcement.
Overnight trading saw Nvidia 's stock surge, making the company set to reclaim its position as most valuable listed company in the world when markets open.
Asian stock markets, including the Nikkei 225 and Hong Kong's Hang Seng, rose following the news, while European markets, such as the UK's FTSE 100, showed a more muted response.
The White House plans to appeal the court's decision, leading analysts to predict a period of tariff "limbo" that could prolong market uncertainty.
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ITV News
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- ITV News
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