The US Wall Street stock market has fallen again after recording two consecutive days of positive movements.
The major indexes fell, driven by the US International Trade Court's decision to block the implementation of massive tariffs previously dubbed "Liberation Day" by President Donald Trump.
The Dow Jones Index fell 0.58%, the S&P 500 fell 0.56%, while the technology-focused Nasdaq fell 0.51%.
The court ruled that Trump's actions exceeded the authority provided under the International Emergency Economic Powers Act (IEEPA), thus signaling that trade tariffs are likely to be repealed by early July.
Indirectly, this decision brings relief to the small business sector and economic markets that have been affected by the implementation of trade tariffs by the Trump administration.
The FOMC minutes released at 2:00 am this morning decided to maintain the benchmark interest rate at a range of 4.25% to 4.50%, in line with the current increased economic uncertainty.
In other developments, Nvidia shares jumped 5% in its data center business, despite facing previous US export restrictions to China.
The positive performance ensured that artificial intelligence (AI) technology stocks grew rapidly and reflected the encouraging performance in the market.
US stock market trading volume recorded $15.60 billion compared to an average of $17.7 billion for 20 full trading days.
