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ForexEF

Forex Today: US Dollar, Stocks Drop on Tariff Fears

2026-02-23

The US dollar and equities fell as the Supreme Court overturned some Trump-era tariffs, while President Biden announced new 15% global tariffs, triggering market uncertainty. Geopolitical tensions escalated with US-Iran talks scheduled for Thursday, and Polymarket data shows a 31% probability of a US military strike within 10 days. Precious metals like gold and silver gained as investors sought safe-haven assets amid trade policy risks and geopolitical fears. The market sell-off reflects concerns over economic growth and potential conflicts disrupting global supply chains.