Week of 23 February 2026
Weekly markets 23 02 2026
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The US Supreme Court strikes down Trump's tariffs — but don't expect the president to take it lying down. We look at how the administration has pivoted to a new 10% across-the-board import levy and who wins and loses, with the UK among the hardest hit. Beneath the calm surface of the S&P 500, markets are anything but steady: AI is hammering software stocks while energy and commodity firms pick up the slack, and the gap between tech debt and Treasury yields is flashing warning signs. And we examine gold's transformation from inflation hedge to something altogether more driven by fear, geopolitics, and financial momentum.
