​Gift Nifty jumps 400 points from lows after US Supreme Court strikes down Trump tariffs

The Gift Nifty index experienced a significant rebound, rising nearly 400 points after the US Supreme Court invalidated former President Donald Trump's extensive tariffs. This ruling, which deemed Trump's reliance on the 1977 International Emergency Economic Powers Act for imposing tariffs unconstitutional, has far-reaching implications for global trade and financial markets. Investors reacted positively, leading to a rally in major US stock indices, as the decision signals a potential easing of global trade tensions. Trump's tariffs, which he introduced during his second term, were intended to bolster domestic revenue but instead led to strained relations with key trading partners and increased market volatility. For India, this ruling arrives at a pivotal juncture as it grapples with market fluctuations influenced by US Federal Reserve policies and a downturn in the IT sector. Earlier, India and the US had brokered a temporary trade agreement to alleviate tariff burdens, but the Supreme Court's decision may further reshape trade dynamics. The future of US trade policies remains uncertain as the administration could explore alternative legal frameworks for tariffs, impacting economies reliant on exports and multinational corporations adjusting to previous tariff regimes.