Tariffs Return After Supreme Court Ruling: Will Market Face Another Hit?

The Supreme Court struck down Trump’s IEEPA tariff framework (6–3), but within 48 hours the White House pivoted—invoking Section 122 to impose a 15% global tariff effective Feb 24. Markets reacted instantly: futures slipped as investors refocused on one variable—corporate costs. History suggests policy shocks trigger 1%–2% pullbacks, then stabilize if earnings stay intact. But this time tariffs are broader, and valuations are elevated Is this another short-term volatility spike—or the start of margin compression?