Markets greet court ruling with a shrug

The court decision to block Trump's tariffs hasn't generated much of a euphoric reaction, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.

FTSE 100 flat despite court blocking tariffs

For the FTSE 100 and other European markets, today has been a case of selling the news. Indices on the continent have struggled to make headway today, but given the size of the rally in recent weeks and the looming month-end it is perhaps not surprising to see the move take a breather. The Trump administration is sure to appeal the decision, and will also look to employ other methods to impose tariffs, so the court decision is not a definitive resolution of the issue.

US futures rallied overnight on the court news and Nvidia earnings, but have been similarly rangebound today. It feels like investors are awaiting Trump’s next move, and until that arrives it might not be too wise to push this rally much further in the short term.