Trump’s 10% levy takes effect as US rebuilds tariff wall

February 24, 2026

Trump’s 10% levy takes effect as US rebuilds tariff wall

Breaking News

Image source: Wikimedia Commons



Donald Trump’s new 10% global tariffs went into effect on Tuesday, kicking off a White House effort to preserve the president’s trade agenda after the Supreme Court struck down his original sweeping duties.

The president signed an executive order last Friday authorizing the 10% import tax just hours after the ruling.

He subsequently threatened to raise the number to 15%, but Trump did not officially issue a directive to increase the rate by Tuesday at 12:01 a.m. Washington time when the 10% levy went into effect.

The White House is working on a formal order that will increase the global tariff rate to 15%, according to an administration official.

The timeline for implementing that higher levy has not been finalized, said the official, who spoke on the condition of anonymity to discuss private matters. Yahoo Finance reports.

EdgeUp

🌐 Dow, S&P 500, Nasdaq futures rise after tariffs and AI ignite Wall Street’s latest sell-off

US stock futures ticked higher on Tuesday, attempting to stabilize after Wall Street benchmarks kicked off the final stretch of February with steep losses driven by fears of AI disruption and tariff uncertainty.

Dow Jones Industrial Average futures rose 0.1%.

S&P 500 futures climbed roughly 0.2%, while Nasdaq 100 futures also added about 0.2%.

The cautious rebound follows a sharp sell-off on Monday as investors grappled with renewed concerns that rapid advances in artificial intelligence could disrupt large parts of corporate America.

The blue-chip Dow led the slump, dragging broader market indexes lower. Yahoo Finance reports.


💊 Novo Nordisk and United Biotechnology obesity drug trial shows 19.7% weight loss

Novo Nordisk said on Tuesday its triple agonist UBT251, targeting the receptors for GLP-1, GIP and glucagon and jointly developed with United Biotechnology, achieved a statistically significant mean weight loss of up to 19.7% after 24 weeks in a trial.

The trial, conducted by United Biotechnology, evaluated the safety and efficacy of once-weekly injectable doses of 2 milligram, 4 milligram and 6 milligram UBT251 compared with placebo in Chinese patients with overweight or obesity, Novo Nordisk said in a statement.

From a baseline mean body weight of 92.2 kilograms, the highest mean weight loss observed among people treated with UBT251 was 19.7%, compared with 2.0% in the placebo group after 24 weeks of treatment, the company said. Yahoo Finance reports.


💳 American Express stock tumbles 7% as AI scare trade hits payments, what to watch before the open

American Express is grabbing attention ahead of Tuesday’s U.S. open, coming off a steep one-day drop that put the Dow name near the bottom of the blue-chip pack.

Shares ended at $321.24, sinking $24.88, or roughly 7.2%.

This shift wasn’t sparked by an American Express earnings report or regulatory news.

Instead, investors pulled cash out of sectors linked to consumer activity and transaction counts, with jitters over trade policy and renewed AI worries spurring a risk-off tone. TechStock² reports.


💵 PayPal stock price jumps on takeover chatter, what investors watch before the open

PayPal Holdings, Inc. jumped 5.8% to finish at $44.05 on Monday.

The move came after Bloomberg News reported that the digital payments company is seeing early takeover interest as its shares tumble.

PayPal wouldn’t comment. Reuters was unable to confirm the Bloomberg report independently.

This comes at a delicate moment for PayPal.

On March 1, board chair Enrique Lores is set to step in as CEO, following the board’s criticism that the company’s recent changes have lagged behind what it wanted.

Lores has pledged to move faster and more precisely. TechStock² reports.


🧬 Vir biotechnology announces strategic collaboration with Astellas

Vir Biotechnology Inc has entered a significant partnership with Astellas Pharma Inc to develop and commercialize VIR 5500, its leading immuno oncology candidate.

The collaboration is designed to speed up the progression of VIR 5500 across multiple prostate cancer stages, supported by encouraging phase one clinical data.

The agreement includes 1 point 7 billion in combined upfront and milestone payments, with a 50 50 profit split in the US and exclusive commercial rights for Astellas outside the US.

Vir will also receive tiered double digit royalties and additional sales based milestones from markets outside the US. GuruFocus reports.


🧠 Keysight shares jump in premarket after earnings beat and strong outlook

Shares of Keysight Technologies Inc rose sharply in premarket trading after the company reported better than expected first quarter financial results and issued strong second quarter guidance.

Keysight Technologies reported quarterly earnings of 2.17 per share, which beat the Street estimate of 2.

Quarterly revenue came in at 1.6 billion, which beat the analyst consensus estimate of 1.54 billion, according to data from Benzinga Pro.

Keysight shares jumped 16.8 percent to 286.03 in the premarket trading session. Benzinga reports.


🤖 IBM stock is trending after cratering 13 percent and Claude maker Anthropic is the reason why here is what happened

On Monday, shares of International Business Machines Corp declined 13.18 percent in the regular session to 223.35 and gained 0.94 percent in after hours trading.

The stock was seen trending overnight.

The stock became the latest perceived victim of rapidly advancing AI technology.

The move followed comments from Anthropic that its Claude Code tool can help companies modernize legacy systems built on COBOL.

Common Business Oriented Language, or COBOL, is a programming language widely used in banking, government and large scale transaction processing. Benzinga reports.

Top 5 Movers in Early Pre-Market

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Stock Analysis reports.


1) VIR: Vir Biotechnology, Inc.
Total gain: +65.14%

2) MYGN: Myriad Genetics, Inc.
Total gain: +21.92%

3) KEYS: Keysight Technologies, Inc.
Total gain: +16.33%

4) THR: Thermon Group Holdings, Inc.
Total gain: +16.17%

5) SGHC: Super Group (SGHC) Limited
Total gain: +15.64%

Yesterday’s Biggest Movers

The closing price of the top three market percent gainers trading near or above $3 on February 23.
Stock Analysis reports.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1) ACLXM: Arcellx, Inc.
Total gain: +77.43%
The company announced that it has entered into a definitive agreement to acquire Arcellx for $115 per share in cash at closing and one contingent value right of $5 per share, which represents an implied equity value of $7.8 billion payable at closing. Arcellx is a biotechnology company focused on delivering a new class of innovative immunotherapies for patients with cancer and other incurable diseases. Businesswire reports.

2) VNDA: Vanda Pharmaceuticals Inc.
Total gain: +41.49%
The company announced that the U.S. Food and Drug Administration (FDA) has approved BYSANTI™ (milsaperidone) tablets, a first line therapy for the acute treatment of manic or mixed episodes associated with bipolar I disorder and for the treatment of schizophrenia in adults. PR Newswire reports.

3) ASPS: Altisource Portfolio Solutions S.A.
Total gain: +26.79%
The stock appeared to be moving on no notable news.

Today’s Notable Earnings

*Estimate and Actual numbers represent Earnings Per Share in US Dollars


IMOS: ChipMOS TECHNOLOGIES
Q4 2025
Before Market Open
Estimate: N/A
Actual: 0.460

WDAY: Workday
Q4 2026
After Market Close
Estimate: 1.800
Actual: N/A

GDDY: GoDaddy
Q4 2025
After Market Close
Estimate: 1.580
Actual: N/A

Today’s Economic Dates

Time (ET) / Report / Period

8:00 AM - Chicago Fed President Austan Goolsbee speaks - N/A
9:00 AM - S&P Case-Shiller home price index (20 cities) - Dec.
9:00 AM - Atlanta Fed President Raphael Bostic speaks - N/A

Parting Thoughts

“The purpose of margin of safety is to render the forecast unnecessary.”

– Benjamin Graham

Sourced in: Benjamin Graham Quotes – Investopedia.

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