{"id":58965,"date":"2026-02-23T10:07:30","date_gmt":"2026-02-23T14:07:30","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/markets-shaken-by-new-15-global-tariff-as-nvidia-earnings-loom\/58965\/"},"modified":"2026-02-23T10:07:30","modified_gmt":"2026-02-23T14:07:30","slug":"markets-shaken-by-new-15-global-tariff-as-nvidia-earnings-loom","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/markets-shaken-by-new-15-global-tariff-as-nvidia-earnings-loom\/58965\/","title":{"rendered":"Markets Shaken by New 15% Global Tariff as Nvidia Earnings Loom"},"content":{"rendered":"

Market Sentiment and Premarket Activity<\/h2>\n

U.S. stock futures are trending lower this Monday morning, February 23, 2026, as investors grapple with a sudden shift in trade policy. Over the weekend, President Trump<\/a> announced plans to implement a 15% flat-rate global tariff via executive order. This move comes immediately after a landmark 6-3 Supreme Court ruling on Friday that struck down the administration's previous "reciprocal" tariff policy, which had been enacted under the International Emergency Economic Powers Act (IEEPA).<\/p>\n

As of 6:00 AM ET, futures for the S&P 500<\/a> (SPX<\/a>) are down 0.22%, while Nasdaq 100 (NDX<\/a>) futures have slipped 0.35%. The Dow Jones<\/a> Industrial Average (DJI<\/a>) futures are also in the red, down approximately 0.23%. The renewed tariff uncertainty has introduced fresh volatility into a market that had closed Friday on a high note, with the major indexes initially celebrating the Supreme Court's decision to limit executive tariff authority.<\/p>\n

Major Index Performance and Trends<\/h2>\n

Despite the premarket<\/a> dip, the major indexes are coming off a resilient week. On Friday, the Dow Jones Industrial Average (DJI<\/a>) rose 0.47% to close at 49,625.97, while the S&P 500 (SPX<\/a>) gained 0.69% to end at 6,909.51. The tech-heavy Nasdaq Composite (IXIC<\/a>) led the charge, climbing 0.90% to finish at 22,886.07.<\/p>\n

However, a notable rotation is underway. While technology and AI-centric stocks have fueled the market's 99% gain over the last three years, investors are increasingly pivoting toward "real economy" sectors. According to recent data, industrial, consumer defensive, and energy stocks are outperforming. Companies like Caterpillar (CAT<\/a>), Walmart (WMT<\/a>), and Exxon Mobil (XOM<\/a>) are benefiting from this shift as investors seek stability amid rising inflation, which currently sits at a 3% year-over-year core PCE rate.<\/p>\n

Corporate News and Stock Movers<\/h2>\n

The spotlight this week is firmly on Nvidia (NVDA<\/a>), which is scheduled to report its fourth-quarter fiscal 2026 earnings on Wednesday. Analysts are expecting record revenue of $65 billion, but the stock is under pressure this morning following reports that three senior executives offloaded over $105 million in shares since the start of the year.<\/p>\n

In the pharmaceutical sector, Vanda Pharmaceuticals (VNDA<\/a>) surged over 34% in premarket<\/a> trading after receiving FDA approval for its Bysanti tablets. Conversely, Novo Nordisk (NVO<\/a>) shares dropped 8.4% following disappointing results from its Redefine 4 clinical trial.<\/p>\n

Other notable movers include:<\/p>\n