American Market Recap: Trump says he will invoke 10% Section 122 global tariff

Friday, 20 Feb, 2026 News Trump says he will invoke 10% Section 122 global tariff US President Donald Trump announced he will invoke a 10% global tariff via Section 122. This is generally what was expected but it's limited to 150 days unless extended by Congress. It also has some o News Trump planning to invoke new authorities The NYT reports : President Trump is planning to invoke new trade authorities in response to the Supreme Court's ruling overturning his sweeping tariffs, according to two people familiar with his pl Learn more Central Banks Fed's Logan: There is now more inflation uncertainty due to tariff decision Fed's Logan: I'm not fully convinced we are on a path all the way to 2% Policy is well positioned to deal with risks Worried about demand outstripping supply Is cautiously optimistic that economy on p Stocks Huge earnings week ahead: NVIDIA's moment of truth, eyes on beaten up software stocks We are stepping into what might be the most consequential week of the Q4 earnings season. The spotlight is squarely on the AI complex, but we also have a massive slate of consumer and enterprise tech Central Banks Atlanta Fed GDP now growth estimate for the 1st quarter 3.1% The Atlanta Fed's initial GDPNow estimate for Q1 2026 real GDP growth came in at 3.1% (annualized) as of February 20, pointing to a solid start to the year. At the same time, the advance estimate for News Markets struggle to make sense of the tariff news, Trump to speak soon Market action in the wake of the tariff decision has been choppy. There aren't many tariff/Supreme Court experts on trading desks, so markets are understandably confused. Trump and other administratio Technical Analysis Nasdaq Technical: Nasdaq stalls at the falling 100 hour MA The NASDAQ index has rebounded in the wake of the Supreme Court decision, pushing to an intraday high of 22,948.87 . That rally brought the index to within roughly 13–14 points of the falling 100-hour News Trump says he has a backup plan for tariffs Trump says the Supreme Court decision is a 'disgrace' and that he will find other ways to impose them, according to CNN. The thing is, IEEPA tariffs are immediately voided and that's 60% of tariff rev Learn more Technical Analysis The USD has moved marginally lower after the Supreme Court decision The USD initially moved lower following the Supreme Court's 6–3 decision striking down the Trump administration's IEEPA tariff authority . The greenback sold off in the immediate aftermath as markets

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