In a high-stakes day for global markets and the technology sector, the U.S. Supreme Court has issued a landmark ruling striking down global tariffs previously implemented by the Trump administration. In a 6-3 decision, the Court found that the President exceeded his authority under the International Emergency Economic Powers Act (IEPA). The legal victory for free-trade advocates sparked an immediate surge in equities, specifically within the tech sector, while the U.S. dollar and bonds retreated. While the administration is expected to pivot to a "plan B" using alternative tariff authorities, the battle now shifts to lower courts to determine if companies are entitled to refunds for duties already paid.
The media landscape is facing equally volatile shifts as Netflix co-CEO Ted Sarandos doubles down on the streaming giant’s bid for Warner Bros. Discovery. Despite Warner reopening discussions with Paramount Skydance, Sarandos characterized the Netflix offer as "not complicated at all," arguing it provides superior value for shareholders. Unlike Paramount’s bid to acquire the entirety of the company—including European sports networks that Netflix has no interest in—the Netflix proposal aligns with the Warner board's reported interest in splitting the company. Analyst Rich Greenfield noted that this structural flexibility gives Netflix a strategic edge in the ongoing bidding war.
Space exploration also dominated the headlines today, with NASA officially setting March 6 as the target launch date for Artemis 2. The mission marks the first time in over 50 years that astronauts will travel to the vicinity of the moon. However, the announcement comes amidst somber scrutiny of Boeing’s aerospace division. A new report has officially classified the recent Starliner mishap—which left two astronauts stranded on the International Space Station—as a "Type A mishap." This is the highest severity level in NASA’s reporting structure, placing the incident in the same category as the Challenger and Columbia disasters.
On the regulatory front, Apple is facing a serious legal challenge from West Virginia. Attorney General John McCuskey announced a lawsuit against the tech titan, alleging that Apple knowingly allowed the distribution and storage of child sexual abuse material (CSAM) on its iCloud platform. McCuskey argued that Apple’s strict adherence to user privacy should not be used as a shield to protect predators. To bolster the state's case, he pointed to data showing that competitors like Meta and Google report significantly higher volumes of CSAM than Apple, suggesting a lack of proactive oversight on the part of the iPhone maker.
