European Markets Surge as Supreme Court Rejects Trump Tariffs
European stock markets closed sharply higher on February 20, 2026, mirroring gains on Wall Street following the U.S. Supreme Court’s decision to reject Donald Trump’s proposed tariffs. The luxury and automotive sectors led the gains, with Milan’s FTSE MIB index rising by 1.49%.
Wall Street’s Positive Response
Wall Street likewise experienced a positive turnaround after initially opening lower. The Dow Jones Industrial Average gained 0.47% to close at 49,625.97 points, recovering early losses despite a reported GDP growth of 1.4%, which was impacted by a recent government shutdown. The S&P 500 rose 0.71% to 6,910.51 points, and the Nasdaq Composite advanced 0.90% to 6,910.51 points. Amazon saw a 2.60% increase, and Home Depot rose 1%, as investors assessed the potential impact of the tariff ruling.
Sector Performance
Automobile and luxury goods stocks experienced significant gains in Europe. Brunello Cucinelli (+2%) and Ferragamo (+4.2%) both saw increases. Stellantis (+2%) also benefited from the positive market sentiment. Campari (+2.7%) concluded the week with gains, driven by a favorable trend in the wine & spirits sector.
Italian Market Highlights
In Milan, Moncler (+13.4%) performed exceptionally well, boosted by better-than-expected 2025 results and a positive outlook for 2026. Unipol (+8.6%) also saw strong gains following positive earnings reports. Banks also contributed to the overall positive performance, with Banco Bpm (+4%), Bper (+4%), and Mps (+3%) showing notable increases.
Commodities and Currency Markets
Oil prices declined, with April futures on Brent crude oil falling to $71.2 per barrel (-0.6%) and WTI futures at $66 per barrel (-0.6%). Natural gas Ttf decreased to €31.9 per MWh (-4.6%). Spot gold rose to $2,060 per ounce (+1.3%). The euro/dollar exchange rate stood at 1.077, while the dollar/yen exchange rate was at 155.
February 20, 2026 (changed February 20, 2026 | 10:40 pm)
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