By Danielle Chemtob,Forbes Daily
Publication Date: 2026-02-24 12:50:00
The market boost spurred by the Supreme Court striking down President Donald Trump’s tariffs was short-lived, as all three major indexes fell Monday.
The S&P 500 and Nasdaq sank by 1% and 1.1%, respectively, while the Dow Jones Industrial Average lost 1.7% on the first day of trading since Trump enacted global tariffs of 15% in response to the Supreme Court’s decision.
Trump claimed Monday he does not need Congress to approve tariffs, which is misleading, though there are limited scenarios in which Congress has given presidents the ability to enact tariffs without further approval—including the statute he announced the 15% tariffs under, but even those will expire after 150 days.
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