Squawk on the Street Markets and the Supreme Court Tariffs Ruling Aftermath, Novo Nordisk Tumbles, Winter Storm Impact 2/23/26
Feb 23, 2026
Markets react to a major Supreme Court tariffs ruling and the president's plan to raise global tariffs. Novo Nordisk slides after trial results show a competitor outperforming its obesity drug. A winter storm wreaks havoc on Northeast travel with thousands of flight cancellations. AI developments, big-cap movers like Alphabet and NVIDIA, and Hollywood boardroom drama also make headlines.
AI Snips
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Tariff Ruling Creates Policy Uncertainty For Markets
- The Supreme Court tariff ruling and the president's 15% global tariff threat create policy uncertainty that markets first cheered then reevaluated.
- Jim Cramer and Carl Quintanilla note the decision pressures CEOs politically and could alter consumer prices, revenue and Fed calculus around cuts.
Avoid Selling Ahead Of Expected Rate Cuts
- Don't sell into an environment where short-term rates are likely to fall; historically stocks perform well through rate cuts.
- Jim Cramer warns that selling now bets against a potential Fed easing narrative driven by lower inflation components.
CrowdStrike Request Got A Polite Claude Refusal
- Jim Cramer recounts George Kurtz asking Claude to build a tool to replace CrowdStrike and Claude politely declining.
- The exchange (quoted by Cramer) illustrates AI vendors cautioning against overpromising capabilities versus incumbent security firms.