Wall Street slides as Trump introduces new global tariffs and AI fears rattle software stocks

The U.S. Supreme Court issued a significant ruling on February 23, 2026, determining that most existing duties were unlawful. Following the decision, President Donald Trump immediately utilized the Office of the U.S. President to impose a temporary 15% global tariff. This sequence of events created sudden, large-scale tariff uncertainty that has disrupted asset prices and heightened concerns across the United States US and the global economy.

The immediate policy action coincided with a sharp selloff across Wall Street and major U.S. stock markets. The S&P 500 index, the Nasdaq, and the Dow Jones all faced downward pressure as the market reacted to the new trade landscape. In response to the volatility, investors initiated a flight to safe-haven assets, leading to increased demand for gold, U.S. Treasuries, and the Swiss franc.