Asian Markets Rocked by US Supreme Court Ruling on Trump Tariffs

Asian-Pacific stock markets moved in mixed directions at the opening of trade on Tuesday, 24 February 2026. The fluctuations were driven by investors weighing new tariff threats from United States President Donald Trump and concerns surrounding artificial intelligence (AI).

In a post on Truth Social on Monday, 23 February 2026, Trump threatened that any country seeking to challenge the US Supreme Court’s decision would face higher import tariffs. The statement followed the Supreme Court’s ruling to strike down import tariffs imposed under the International Emergency Economic Powers Act.

As an alternative, Trump said he would impose a 15 per cent global tariff under Section 122 of the Trade Act of 1974.

Investors were also awaiting the loan prime rate (LPR) decision by China’s central bank. The one-year LPR serves as a benchmark for new commercial loans, whilst the five-year LPR acts as a guide for property lending.

Capital markets in China were set to reopen following the extended Lunar New Year holiday.

According to CNBC International, South Korea’s Kospi index slumped 1.1 per cent at the start of trading. The small-cap Kosdaq index edged up 0.16 per cent.

In Japan, the Nikkei 225 index surged 0.77 per cent, whilst the Topix index opened flat.

In Australia, the S&P/ASX 200 index dipped 0.1 per cent. Hong Kong’s Hang Seng futures also slid to 26,869, down from its previous level of 27,081.91.

Wall Street was scorched following the US Supreme Court’s decision to suspend Trump’s import tariff regulations. All three benchmark indices fell sharply, led by a steep 1.66 per cent decline in the Dow Jones Industrial Average.

The S&P 500 lost 1.04 per cent, whilst the Nasdaq Composite dropped 1.13 per cent amid a two-day correction in cybersecurity stocks driven by concerns that AI could erode the sector.