Breaking News Today – Monday 23 February 2026

Business News Today 

Trump Tariff Turmoil

The US Supreme Court on Friday ruled against the US administrations blanket global tariffs and found this to be illegal The conservative-majority high court ruled six to three in the judgment, saying that a 1977 law known as the International Emergency Economic Powers Act (IEEPA) Trump has relied on to impose tariffs, “does not provide for the President to impose tariffs.” Trump said he was “absolutely ashamed” of some justices who ruled against him, calling them “disloyal to our Constitution” 

There are however other mechanisms for the administration to use and the court set a ceiling of 15% for a maximum period of 150 days. The ruling does not impact sector-specific duties where Trump separately imposed on imports of steel, aluminium and various other goods. Several government probes which could lead to more sectoral tariffs remain in the works. Trump responded by first issuing a blanket 10% tariff which was then later adjusted to 15%. There is no indication where this now leaves existing tariff agreements that have been finalised. Wall Street futures and the dollar slid in Asia this morning as confusion over US Tariffs revived the “sell America” market trade, while confidence in the entire AI sector is set to be tested by results from tech giant Nvidia this week.

Crypto Currencies in Free-Fall

The Crypto currency market is awash in red this morning with markets in full risk-off retreat after a few days of gains last week. There is not a single crypto major that has not been affected by the sell-off of crypto. Bitcoin is down to a low of just over 65,000 – a level last seen in early October 2024, a more than 16-month low. U.S. spot Bitcoin ETFs have seen a historic five-week consecutive outflow streak ending last week (through Feb 20), with a nearly $3.8 billion sell total during that run.

This is the longest such streak since February where there was a $5 billion capital withdrawal with BlackRock’s IBIT leading the exodus, shedding over $2.1–2.13 billion in the five-week period. Ether has lost more than -4.5% this morning while Solana is bleeding with a -5.7% drop in price. Bitcoin has shed -26.8% in value over the last month with Ether losing an eye-watering -36% in the last month.

Silver and Gold Surges Again on Market Uncertainty

Gold has climbed 0.81% to around $5,154 per ounce this morning while silver has surged by 2.48%, reaching their highest price point in over three weeks as renewed tariff worries prompted a rush to safe-haven assets. On Saturday, US President Donald Trump announced plans to raise global tariffs from 10% to 15%, following the US Supreme Court’s rejection of his “reciprocal tariffs.” Trump confirmed the new duties would take effect immediately, although it remained unclear whether he had signed any official document. Meanwhile, Europe’s trade commissioner signaled on Sunday a proposal to halt ratification of the trade deal with the U.S, while India postponed negotiations aimed at finalizing an interim trade deal with Washington. Investors also faced growing fears of a potential US military strike on Iran, with nuclear talks at an impasse. However, negotiators are scheduled to meet again in Geneva on Thursday.

Breaking News Shorts:  

• Nasa has had another setback in its mission to return astronauts to the moon. NASA delayed the highly anticipated flight yet again after a new problem with the Artemis II rocket was detected Saturday. April is now the earliest that the four Artemis II astronauts could fly to the moon.
• Platinum futures climbed toward $2,200 an ounce, in early trade today, hitting a three-week high, as renewed tariff uncertainty and ongoing geopolitical tensions boosted demand for safe-haven metals. it has subsequently flattened at around $2175 per ounce,
• Rolls-Royce Holdings is expected to announce a fresh share buyback worth as much as 1.5 billion pounds ($2 billion), alongside its annual results this week according to a report on Sky News yesterday. its full-year profit guidance at the half-year stage last July, increasing the top end of its operating profit guidance by 300 million pounds, to 3.2 billion pounds, and its free cash flow by 200 million pounds, to 3.1 billion pounds, according to its latest guidance.
• Copper futures hovered above $5.8 per this morning, but struggled to cling onto gains from earlier in the trading session as shifting US trade policies unsettled global markets. Investors also monitored expectations for higher trading volumes this week as Chinese markets reopen after the extended Lunar New Year holiday. Copper and other metals had surged sharply in January before being sold off, largely fueled by speculative activity among Chinese traders.
• Brent crude oil futures fell below $71 per barrel today, retreating -1% from a six-month high, as investors weighed the likelihood of a US–Iran nuclear deal, with further negotiations expected later this week. Iran’s foreign minister said a diplomatic “win-win” solution is within reach and confirmed plans to meet US envoy Steve Witkoff in Geneva.

Markets by Numbers 

Currency markets indicate the US dollar losing ground to major currencies today, with the Greenback trading against the Euro at 1.18275 while trading against the Pound at 1.35277 to the US dollar. The Yen is currently trading at 154.35 to the dollar. The rand (ZAR) is currently trading at around R15.98 against the US dollar.

Commodities:  

• Gold futures have gained momentum today, up by around 0.8% this morning, and currently trading at around $5154.03 per ounce.  
• Copper prices are trending -0.3% lower today, with prices currently around $5.8181 per pound
• Silver futures have spiked by around 2.4% today, and currently trading around $86.671 per ounce.
• Platinum futures are fairly flat after an early spike this morning, and currently trading at $2171.50, While Palladium prices are trending level morning, and currently trading around $1776.50 per ounce.
• Brent crude oil prices are trending almost -1% lower today, and currently at $71.04 with WTI trading lower at $65.67
• Cocoa futures have flattened today, and currently trading around $3184 per ton. 
• Coffee futures are currently trending level today, and trading at around $2.8536 per pound

Crypto Currencies: 

• Bitcoin prices are trending -3% lower today, and trading at around $65637 per coin currently 
• Ether prices are down around -3.9% today, and are currently trading around $1880.94
• $Trumpcoin are currently trading around $3.28

(All prices quoted at approximately 08H50 Central African Time) 

Africa News Briefs:

• As the separatist region of Somaliland continues to seek international recognition for autonomy from Somalia, it announced on Saturday that it was willing to give the United States access to its minerals and military bases. Israel became the first and only country to formally recognise Somaliland‘s independence last December and the region has since it declared its autonomy from Somalia in 1991. “Our friends, if it’s Israel or the United States, explore the potential of minerals that we have, particularly the rare earth and the strategic minerals, which we know are becoming very important for the US,” said Khadar Hussein Abdi, Somaliland’s Minister of the Presidency.
• The South African crime Investigative unit, the Hawks, have arrested 27 suspects, that includes senior government officials linked to a R100-million (around $6.24 million) fraud syndicate within the Mpumalanga provincial Education Department. Nine government officials, 14 service providers and four other individuals now face charges of fraud, corruption and money laundering.Investigators say the accused benefited from inflated contracts and payments for substandard work or even work or goods never delivered.