The U.S. Supreme Court has struck down President Trump's tariff regime in a 6-3 decision, ruling that the tariffs extended beyond the President's "legitimate reach."
Bitcoin experienced a brief surge of approximately 2%, exceeding the $68,000 mark. However, this gain was quickly reversed, with the cryptocurrency returning to just below $67,000 within minutes.
This volatile reaction in the crypto market contrasts with a more stable performance in equities, where the Nasdaq rose 0.6% to a session high.
Earlier Friday, U.S. economic data revealed stagflationary pressures. The economy grew at a modest 1.4% in the final quarter of 2025. Core personal consumption expenditure prices rose 3% year-over-year, exceeding previous and expected figures. Annually, economic growth stood at 2.2%, the slowest since 2020.
"Today’s economic data delivered a messy message of both hotter than expected inflation, and slower than anticipated growth," noted Art Hogan, chief market strategist at B. Riley Wealth. "The confusing message from today’s data confirms the current Fed bias to take their time with monetary policy."
