Global Markets React to Trump's Tariffs Ruling

The article discusses the mixed performance of Asia-Pacific markets as investors assessed the Shanghai Cooperation Organization meeting in Tianjin, amidst uncertainty over tariffs following a U.S. federal appeals court ruling that most of President Donald Trump's global tariffs are illegal. India markets rose after Trump announced that India had offered to reduce its tariffs on U.S. imports to zero. Other markets, including Japan, South Korea, Hong Kong, and Australia, showed varied performances. The article also touches on other financial news, including a fine imposed on Societe Generale by the Australian Securities and Investments Commission and the performance of spot gold and U.S. equity futures.

The U.S. Supreme Court is expected to uphold President Donald Trump's tariffs, according to U.S. Treasury Secretary Scott Bessent. Even if the court rules against the tariffs, Bessent said there are other authorities that can be used to uphold them. The news comes as Trump claimed that India had offered to remove tariffs on U.S. goods, but did not elaborate. The article also discusses the Shanghai Cooperation Organization summit, where key developments included thawing India-China relations and a new development bank. Meanwhile, South Korea's Kospi index rose after the country's inflation came in lower than expected, and a Chinese property stock is defying the slump according to Barclays.

The article discusses the Trump administration's plans for tariffs despite a federal appeals court's ruling that most of President Donald Trump's tariffs are illegal. U.S. Treasury Secretary Scott Bessent expects the Supreme Court to uphold the tariffs and has backup plans in place. The article also covers other market news, including Equinor's investment in Orsted, Novo Nordisk's successful drug trial, and the performance of Europe's Stoxx Aerospace and Defense index.

European stocks opened lower on Tuesday due to uncertainty surrounding tariffs, with the U.K.'s FTSE index down 0.4%, Germany's DAX down 0.8%, and Italy's FTSE MIB and France's CAC 40 in negative territory. Investors are weighing the trade landscape after a U.S. federal appeals court ruled that most of President Donald Trump's global tariffs are illegal. The decision has caused uncertainty, and investors are awaiting euro zone inflation data and Spanish unemployment data.

The stock market is experiencing a mixed reaction as U.S. stock futures were little changed on Monday night, with investors weighing the latest developments on the trade front. A federal appeals court ruled that most of President Donald Trump's global tariffs are illegal, which could reduce the risk of broad-based tariff escalation. However, the decision has also raised questions around the future of Federal Reserve independence, given the Trump administration's efforts to oust central bank officials. The market is also awaiting the release of August's jobs report on Friday, which will influence the Fed's interest rate decision coming mid-month. September is historically the worst month for equities, with the S&P 500 averaging a 4.2% drop over the last five years.