Following a supreme court decision invalidating most tariffs, lawsuits challenging Donald Trump's trade policies have exceeded 2,000. Major corporations, including fedex and l'oréal, are among the plaintiffs, alongside smaller businesses. Over $170 billion in tariffs are at issue, although the process of obtaining refunds is uncertain and could take years. This increase in litigation is placing additional pressure on the government as companies seek to recoup their costs.
The S&P 500 Banks Index fell 3.6%.
Breaking News
Trump stated that Iran cannot have nuclear weapons.
3 hours ago
India and the European Union will refrain from implementing new import-export restrictions beyond World Trade Organization rules, and will eliminate consular requirements under a proposed free trade agreement for goods, according to a draft text. India and the EU will grant most-favored-nation treatment for five years after the pact enters into force, the draft text shows.
4 hours ago
The French foreign ministry advises French citizens against travel to Israel, Jerusalem, and the West Bank following the security situation in Iran.
4 hours ago
The Chicago purchasing managers index for February registered 57.7, exceeding the consensus estimate of 52.8.
6 hours ago
U.S. stocks extended their decline. The Nasdaq was down 1.22%.
6 hours ago
$XYZ is up over 16% in premarket trading. This follows CEO Jack Dorsey's announcement that the company is cutting 40% of its workforce.
6 hours ago
OpenAI announces $110 billion in new investment at a $730 billion valuation.
7 hours ago
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