How does the Supreme Court tariff ruling affect the S&P 500 today?

It reduces expected tariff costs and may return cash via refunds to US importers. That supports margins for retailers, apparel, autos distributors, and hardware. The lift is tempered by a proposed 10% global tariff. S&P 500 today likely stays range‑bound until refund timing and tariff text are published.

What are tariff refunds and who may get them?

Refunds return duties paid under tariff actions now voided by the Court. Eligible US importers that filed entries and paid these duties can claim, subject to agency rules, documentation, and deadlines. Totals may reach up to $175 billion, but actual recoveries will vary by firm and processing timelines.

Could a 10% global tariff still hit UK exporters?

Yes. The UK is not part of USMCA, so exemptions flagged for that bloc would not automatically include Britain. Unless the final rule names UK relief, many UK goods could face an extra 10% at the US border. Company pricing power and contract terms would shape the net impact.

What levels matter for the S&P 500 today?

Watch the Bollinger middle near 6,913 as a momentum pivot and 6,805 as initial support. A sustained break above 6,913 sets up a test of the 7,002 year high. A close below 6,805 would point to 6,737 on Keltner support and a more defensive equity stance.

Law and Government

^GSPC Today, February 21: Tariff Ruling Puts $175B Refunds in Play

ByHuzaifa Zahoor February 21, 2026February 21, 2026

S&P 500 today sits near recent highs as a 6-3 Supreme Court ruling voiding IEEPA tariffs puts up to $175 billion of importer refunds in play. The White House is also signalling a temporary 10% global tariff with USMCA exemptions. For equities, potential input‑cost relief could lift margins in import‑heavy groups, even as policy uncertainty caps multiples. UK investors should track the tariff path, sector earnings sensitivity, and key technical levels on the index to judge whether the relief trade can stick.