Supreme Court Tariff Ruling Stakes Rise On Greenland Gambit (Live Coverage)

The Supreme Court is set to issue at least one opinion starting at 10 a.m. ET and markets will be laser-focused on whether President Donald Trump exceeded his authority in imposing tariffs under the International Emergency Economic Powers Act (IEEPA). S&P 500 futures are selling off Tuesday morning and the 10-year Treasury yield climbing in response to this internal NATO clash, as Europe signals that it won't cave to Trump's demands. Prediction markets odds point to a strong likelihood that the tariffs will be thrown out, which could further blow up the federal budget deficit and crimp Trump's spending plans, partly because already-collected tariffs probably would have to be refunded.