On Friday, the United States Supreme Court invalidated President Trump’s tariff policies in a 6-3 verdict.
The court emphasized that “No previous president has ever utilized this law to enforce tariffs, especially not on such an extensive and significant scale.”
They further noted that the unprecedented scope of authority claimed by the President indicates these tariffs exceed his lawful powers.
Following the announcement, Bitcoin briefly surged approximately 2%, climbing above $68,000. However, consistent with recent cryptocurrency trends, this increase was short-lived as prices quickly dropped back below $67,000.
This transient boost in crypto contrasted with more stable gains observed in stock markets; notably, the Nasdaq index advanced by 0.6% reaching its session peak.
Indicators of stagflation
Earlier on Friday, newly released U.S. economic figures hinted at stagflationary pressures. The Commerce Department reported a modest GDP growth rate of just 1.4% during Q4 of 2025. Meanwhile, core personal consumption expenditures rose by 3% year-over-year—exceeding expectations of 2.9% and up from a prior rate of 2.8%.
The annual economic expansion stood at only 2.2%, marking the slowest pace since the pandemic-hit year of 2020.
“Today’s data paints a complicated picture: inflation is hotter than anticipated while growth remains sluggish,” commented Art Hogan, chief market strategist at B. Riley Wealth. “This ambiguous outlook supports the Federal Reserve’s current cautious approach toward adjusting monetary policy.”