15% global tariff announced despite Supreme Court blocking tariffs… Tom Lee says "crypto rebound possible"

The U.S. Supreme Court moved to block President Donald Trump’s emergency tariff measures, but markets came under renewed downside pressure after additional tariff announcements. On Wall Street, some forecasts also pointed to the possibility of a rebound in tech stocks and cryptoassets (cryptocurrencies).

According to investment news outlet Benzinga on the 23rd, Tom Lee, co-founder of Fundstrat, said in an interview with CNBC that the Supreme Court ruling invalidating the tariffs could have a positive impact on the technology, software and cryptoasset markets. “This ruling places limits on executive authority, which should give investors a sigh of relief,” he said, adding that “trading in technology, software and cryptoassets could come back.”

Lee explained that these sectors had been relatively insulated from the effects of existing tariffs, and that expectations for reduced uncertainty after the ruling could translate into inflows. He added that the market could differentiate between stocks with limited tariff exposure and potential beneficiaries.

However, the initial market reaction moved in the opposite direction. Bitcoin (BTC) and Ethereum (ETH) fell, and stock index futures also weakened. This is seen as reflecting Trump’s announcement of a new 15% global tariff immediately after the Supreme Court decision. Trump criticized the ruling and said he would pursue his trade policy through other legal means.

Earlier, Lee had said the crypto downturn was nearing its final stages, noting that Bitcoin and Ethereum had moved closer to their lows.