Closing Bell Closing Bell: Trading the SCOTUS Tariff Decision 2/20/26
Feb 20, 2026
Eamon Javers, reporter on White House and legal moves, breaks down the uncertainty over $133B in tariff refunds. Avery Sheffield, VantageRock co-founder and CIO, explains which stocks she is avoiding and defensive positioning. Jeremy Siegel, Wharton professor and WisdomTree chief economist, discusses market and macro implications of the Supreme Court tariff decision. Multiple short takes on tech, discretionary and ad sectors follow.
AI Snips
Chapters
Transcript
Episode notes
SCOTUS Decision Creates Prolonged Tariff Uncertainty
- The Supreme Court struck down the Trump tariffs, creating legal and economic uncertainty around refunds of roughly $133 billion.
- The administration signaled it will fight repayment and may reimpose alternative tariffs, prolonging the fallout for companies.
Tariff Fallout Could Delay Fed Cuts
- Higher goods inflation and potential replacement tariffs could keep the Fed from cutting rates soon.
- Markets moved to price out an early cut, shifting the first likely cut further into the year.
Ruling Reined In Executive Tariff Power
- Jeremy Siegel argued the ruling limits the president's unilateral tariff power, reducing the risk of extreme, arbitrary tariffs.
- That constraint, he says, is supportive for markets despite short-term uncertainty about refunds.