Wall Street Surges as Tariff Uncertainty Clears

U.S. stocks witnessed a significant rally on Friday, spurred by gains in major tech companies such as Alphabet, Amazon, and others. This surge in the market followed the Supreme Court's decision to overturn President Donald Trump's global tariffs, which were initially enacted under a law covering national emergencies.

In response to the court's 6-3 ruling, Trump criticized the decision and announced plans for a temporary 10% global tariff to replace some of the duties the court annulled. Investors responded positively as the newly proposed tariff was less severe than anticipated, reducing uncertainty in the market.

The market gains were widespread, with Google-parent Alphabet rising nearly 4%, Amazon adding 2.4%, and Apple increasing by 1.2%. The S&P 500, Nasdaq, and Dow Jones each showed notable increases. However, legal challenges to Trump's tariffs persist, with the threat of a potential $175 billion refund looming over the U.S. economy.