US Futures, Bitcoin Plunge as Asian Markets Exhibit Mixed Performance Following Supreme Court Ruling on Trump-Era Tariffs

Global Markets Report - February 26, 2026

US Futures and Asian Shares

US futures dropped while Asian shares were mostly higher on Monday following the Supreme Court's ruling against President Donald Trump's sweeping tariffs. The Hang Seng Index in Hong Kong led regional gains, surging 2.2% to 26,980.22.

Cryptocurrency Market

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

Bitcoin tumbled as much as 5% early Monday, dropping below $65,000. The sell-off has been driven by investors pulling out of speculative assets and concerns about future cryptocurrency regulation. Since October 6, 2025, Bitcoin has lost nearly half of its value, falling from a record high of $126,210.50.

Stock Market Performance

• S&P/ASX 200 in Australia shed 0.6% to 9,024.40
• Taiex in Taiwan added 0.5%
• Sensex in India was up 0.4%
• SET in Bangkok jumped 1.1%
• Kospi in South Korea edged 0.1% lower to 5,809.53

Market Commentary

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

The mixed reactions to the Supreme Court's ruling are highlighting the winners-and-losers effect of shifts in tariff policy. Benjamin Picton of Rabobank notes that US tariff policy will continue to be a source of uncertainty for markets.

Wall Street Performance

• S&P 500 future lost 0.8%
• Dow Jones Industrial Average future dropped 0.7%
• Nasdaq composite future was down 1%

Economic Indicators

Discouraging reports showing slowing US economic growth and accelerating inflation drew a relatively muted response. The Federal Reserve's dilemma over interest rates remains uncertain, with traders still betting that the Fed will lower rates at least twice this year.

Commodity Prices

• US benchmark crude oil lost 77 cents to $65.71 per barrel
• Brent crude gave up 74 cents to $70.56 per barrel
• Gold price rose 1.9%
• Silver price was up 5.4%