US open: Stocks mixed as Trump tariff hike weighs on sentiment
By Iain Gilbert
Date: Monday 23 Feb 2026
(Sharecast News) - Major indices were little changed early on Monday as Donald Trump raised his global tariff rates after the Supreme Court ruled he had exceeded his powers when instituting his so-called "reciprocal" tariffs.
As of 1445 GMT, the Dow Jones Industrial Average was down 0.02% at 49,614.19, while the S&P 500 advanced 0.05% to 6,913.00 and the Nasdaq Composite came out of the gate 0.17% weaker at 22,846.59.
The Dow opened 11.78 points lower on Monday, taking only a small bite out of gains recorded in the previous session as market participants digested key inflation data, disappointing fourth quarter GDP figures and a Supreme Court decision on Donald Trunp's sweeping tariff regime.
Trump said over the weekend that he would lift his newly announced global tariff rate to 15%, up from the 10% level outlined a day earlier, adding that the duties would take effect immediately, although it remained unclear whether any formal documentation had been issued to enact the change.
In a post on social media, Trump said the increase represented the "fully allowed" level under existing law and signalled that further levies would follow in the coming months - adding to market uncertainty around the outlook for both inflation and global growth.
"I, as President of the United States of America, will be, effective immediately, raising the 10% Worldwide Tariff on Countries, many of which have been 'ripping' the US off for decades, without retribution (until I came along!), to the fully allowed, and legally tested, 15% level," Trump said.
European officials voiced concern over the latest tariff escalation, warning that existing trade arrangements with the US could be at risk. The European Commission said the situation was not conducive to maintaining "fair, balanced and mutually beneficial" transatlantic trade and investment, and called on Washington to provide "full clarity" on its next steps.
Trump's global tariff shake-up was enacted under Section 122 of the Trade Act of 1974, a provision that allows the president to impose duties for up to 150 days before requiring congressional approval.
Geopolitics also remained in focus at the open, with Iran continuing to weigh on sentiment after Trump urged Tehran to reach an agreement on its nuclear programme, warning that "bad things" could occur otherwise.
Additionally, bitcoin came under pressure as risk appetite softened, sliding as much as 5% at one stage to below $65,000 before recovering to $66,110 as the benchmark cryptocurrency remained roughly 2.24% lower amid an ongoing bout of volatility, while gold prices jumped amid the tariff uncertainty, with Spot gold advancing 1% and gold futures rising almost 2%.
On the macro front, the Chicago Federal Reserve's national activity index improved in January, pointing to a pickup in economic momentum at the start of the year, with the index rising to +0.18, up from -0.21 in December, its strongest reading since February 2025. Production‑related indicators drove the improvement, contributing +0.19 compared with -0.03 previously, while employment edged slightly positive at +0.01 after a -0.11 reading in December. Sales, orders and inventories remained marginally negative at -0.02, though this was an improvement on -0.04, and personal consumption and housing made a neutral contribution after detracting -0.04 a month earlier.
Still to come, monthly factory orders data will be published at 1500 GMT.
No major corporate earnings were slated for release on Monday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Amgen Inc. (AMGN) $378.49 1.00%
Apple Inc. (AAPL) $265.72 0.43%
Intel Corp. (INTC) $44.17 0.12%
Cisco Systems Inc. (CSCO) $79.26 0.08%
Dow Jones - Fallers
Microsoft Corp. (MSFT) $392.81 -1.11%
Boeing Co. (BA) $231.95 0.00%
Nike Inc. (NKE) $65.29 0.00%
Salesforce.Com Inc. (CRM) $185.29 0.00%
S&P 500 - Risers
Nektar Therapeutics (NKTR) $75.21 2.00%
Nvidia Corp. (NVDA) $193.04 1.70%
Henry Schein Inc. (HSIC) $80.75 1.49%
Verisk Analytics Inc. (VRSK) $184.99 1.36%
Biogen Inc (BIIB) $194.16 1.11%
Apache Corp. (APA) $29.36 1.03%
Alliant Energy Corp. (LNT) $71.73 1.01%
Amgen Inc. (AMGN) $378.49 1.00%
Incyte Corp. (INCY) $102.31 0.97%
Xcel Energy Inc. (XEL) $82.34 0.97%
S&P 500 - Fallers
Expedia Group Inc. (EXPE) $195.05 -4.14%
Align Technology Inc. (ALGN) $183.22 -3.58%
Netflix Inc. (NFLX) $75.91 -3.51%
Wynn Resorts Ltd. (WYNN) $111.86 -2.62%
Booking Holdings Inc. (BKNG) $3,977.40 -2.44%
CH Robinson Worldwide Inc (CHRW) $185.46 -2.42%
TripAdvisor Inc. (TRIP) $10.55 -2.41%
Synopsys Inc. (SNPS) $429.73 -2.32%
eBay Inc. (EBAY) $86.25 -2.07%
Copart Inc. (CPRT) $35.76 -1.97%
Nasdaq 100 - Risers
Nvidia Corp. (NVDA) $193.04 1.70%
Henry Schein Inc. (HSIC) $80.75 1.49%
T-Mobile Us, Inc. (TMUS) $218.59 1.45%
Verisk Analytics Inc. (VRSK) $184.99 1.36%
Biogen Inc (BIIB) $194.16 1.11%
Amgen Inc. (AMGN) $378.49 1.00%
Incyte Corp. (INCY) $102.31 0.97%
Broadcom Inc. (AVGO) $335.71 0.92%
Vertex Pharmaceuticals Inc. (VRTX) $481.09 0.88%
Alphabet Inc. Class C (GOOG) $317.64 0.87%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $4.35 -6.45%
Expedia Group Inc. (EXPE) $195.05 -4.14%
Align Technology Inc. (ALGN) $183.22 -3.58%
Netflix Inc. (NFLX) $75.91 -3.51%
Workday, Inc. (WDAY) $133.72 -2.97%
Wynn Resorts Ltd. (WYNN) $111.86 -2.62%
Booking Holdings Inc. (BKNG) $3,977.40 -2.44%
Synopsys Inc. (SNPS) $429.73 -2.32%
eBay Inc. (EBAY) $86.25 -2.07%
Gen Digital Inc. (GEN) $21.91 -1.97%
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