US stocks open flat after Trump raises global tariffs to 15%

• Trump imposed the 15% tariff under Section 122 of the Trade Act of 1974, which allows duties for up to 150 days before requiring congressional approval, with warnings of additional levies possible in coming months
• The European Commission expressed concern that the tariff increase is 'not conducive' to fair transatlantic trade and called for clarity from the US government on trade policy direction
• Gold futures climbed around 2% as investors sought safety, while Bitcoin dropped approximately 2% to around $66,000, reflecting a shift toward traditional safe-haven assets amid rising risk aversion

Market Summary: US Stocks Flat as Trump Raises Global Tariffs to 15%

Key Development:

President Trump announced an immediate increase in global tariffs from 10% to 15% on February 23, 2026, following a Supreme Court ruling that struck down his earlier "reciprocal" tariff framework. US equity markets opened flat, with the S&P 500, Dow Jones, and Nasdaq showing minimal movement as investors assessed implications for inflation, growth, and corporate earnings.

Legal Framework:

The tariffs were imposed under Section 122 of the Trade Act of 1974, allowing presidential authority for up to 150 days before requiring congressional approval. Trump warned additional levies could follow, signaling prolonged trade policy uncertainty.

International Response:

The European Commission expressed concern, stating the situation undermines prospects for "fair, balanced, and mutually beneficial" transatlantic trade, calling for clarity from Washington.

Market Reactions:

• Safe havens: Spot gold rose over 1%, with futures climbing approximately 2%
• Cryptocurrencies: Bitcoin fell below $65,000 before recovering above $66,000, down roughly 2% on the day
• Volatility: Markets remained choppy following Friday's session, where initial optimism after the Supreme Court ruling was reversed by Trump's weekend announcement

Notable Stock Movers:

• Arcellx: Shares surged on acquisition news at $115 per share
• Novo Nordisk and Eli Lilly: Traded actively (specific details incomplete)
• Domino's Pizza: Gained 4% after Q4 US sales growth of 3.7% beat estimates (3.1% expected); revenue reached $1.54 billion versus $1.52 billion forecast

Market Outlook:

Policy unpredictability remains a significant overhang for equities, with traditional safe-haven assets outperforming risk assets amid escalating trade tensions.