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White House to challenge Trump tariff block as stock markets surge

Trump threatens 50 per cent tariffs on EU goods
  • The US stock market is set to surge after a federal court blocked President Donald Trump’s global tariffs.
  • Ahead of trading, US futures indicate a 1.5 per cent climb for the S&P 500 and nearly 2 per cent for the Nasdaq following the tariff block announcement.
  • Overnight trading saw Nvidia's stock surge, making the company set to reclaim its position as most valuable listed company in the world when markets open.
  • Asian stock markets, including the Nikkei 225 and Hong Kong’s Hang Seng, rose following the news, while European markets, such as the UK’s FTSE 100, showed a more muted response.
  • The White House plans to appeal the court's decision, leading analysts to predict a period of tariff "limbo" that could prolong market uncertainty.
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