US Equity Indexes Mixed After Supreme Court Strikes Down Trump's Tariffs

12:21 PM EST, 02/20/2026 (MT Newswires) -- US equity indexes traded mixed at midday Friday after the Supreme Court struck down President Donald Trump's punitive tariffs on international trade partners, and the economy grew at a slower pace than forecast for Q4.

The Nasdaq Composite jumped 0.3% to 22,751.1, the S&P 500 rose 0.1% to 6,871.6, while the Dow Jones Industrial Average retreated 0.2% to 49,292.8.

The communication services sector was the standout gainer, while energy led the decliners intraday.

The Supreme Court struck down Trump's tariffs, which have brought in hundreds of billions of dollars of revenue for the government since their imposition last year, stating that the International Emergency Economic Powers Act does not support such actions.

"We claim no special competence in matters of economics or foreign affairs," Chief Justice John Roberts said in the opinion of the court. "We claim only, as we must, the limited role assigned to us by Article III of the Constitution. Fulfilling that role, we hold that IEEPA does not authorize the President to impose tariffs."

US economic growth, as measured by gross domestic product, rose by an annualized 1.4% in Q4 following a 4.4% jump in the previous quarter, below the 2.8% increase expected in a Bloomberg-compiled survey.

US Treasury yields rose, with the 10-year climbing 1.3 basis points to 4.09%.

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