Fox News Hourly Update – 1 AM ET, February 21, 2026

Host: Chris DiMaio, with reporting from Ainsley Earhart, Peter Doocy, Lydia, Kevin Cork, and Stephanie Bennett
Main Theme:
This episode covers breaking news on a Supreme Court decision affecting President Trump’s tariff policy, new government moves on alien disclosures, escalating U.S.–Iran tensions, and the arrest of former UK Prince Andrew.

Key Discussion Points & Insights

1. Supreme Court Blocks Trump’s Tariffs under Emergencies Law

• Segment Start: [00:03]
• The Supreme Court issued a 6–3 decision barring President Trump’s use of the International Emergency Economic Powers Act (IEPA) to impose tariffs, affecting actions taken on fentanyl and "reciprocal tariffs."
  • Ainsley Earhart: “It is a 6 to 3 decision in which the Supreme Court rejected President Trump's use of the emergency statute called the International Emergency Economic Powers Act, or IEPA for short, that he used for his fentanyl and reciprocal tariffs.” [00:12]
• President Trump expressed clear frustration at the Court’s decision.
  • Trump (via Peter Doocy): “Now I'm ashamed of certain members of the court, absolutely ashamed for not having the courage to do what's right for our country.” [00:28–00:34]
• A major unresolved issue is the refund process for collected tariffs, which could reach as much as $175 billion, according to the Penn Wharton budget model.
  • Ainsley Earhart: “The Penn Wharton budget model projects that refunding these IPA tariffs could trigger refunds upwards of $175 billion.” [00:36]

2. White House Promises Alien and UFO Document Releases

• Segment Start: [00:52]
• Following remarks by former President Obama suggesting “aliens are real,” President Trump announced he will direct government agencies to declassify files on extraterrestrial life.
  • Lydia: “Presidents of the United States have one of a kind perspective on this subject. So when one like Barack Obama says something sensational like that, it is very helpful to ask another...The president [Trump] announced...I will be directing the secretary of war and other relevant departments and agencies to begin the process of identifying and releasing government files related to alien and extraterrestrial life.” [01:05]
• Bipartisan interest is high, with Representative Jared Moskowitz (D) quoted:
  • “Why would something not real be classified? Oh, this is the rare issue uniting Republicans and Democrats who all just seem to want to believe.” [01:32]

3. Markets Rally after Supreme Court Ruling

• Segment Start: [01:43]
• Stock indexes (Dow, NASDAQ, S&P 500) finished the week higher, attributed to clarity after the Supreme Court’s tariff decision.
  • Chris DiMaio: “Stocks finishing the week higher after the Supreme Court ruling on President Trump's tariffs. The Dow, NASDAQ and S&P 500 finishing the week up.” [01:43]

4. U.S.–Iran Tensions Rise Amid Nuclear Program Standoff

• Segment Start: [02:31]
• President Trump confirmed he is considering "limited military strikes on Iran" over its nuclear program.
  • Chris DiMaio: “President Trump confirms he's considering limited military strikes on Iran over its nuclear program.” [02:31]
• Iran responds with threats of missile attacks on U.S. bases; U.S. military presence in the region is described as “impressive and imposing.”
  • Peter Doocy: “Iran, of course, has vowed to respond with ballistic and cruise missiles targeting bases in the Gulf...the USS Gerald R. Ford aircraft carrier strike group passed through the Strait of Gibraltar at the mouth of the Mediterranean, obviously letting everybody know the big guns are on hand.” [02:37]
• Iran’s ambassador declares all U.S. assets in the region “legitimate targets.” Meanwhile, Iran is preparing a draft deal on its nuclear program to send to Washington “in the next two to three days.” [03:19]

5. Former Prince Andrew Arrested in UK Over Government Documents

• Segment Start: [03:42]
• Prince Andrew arrested and held for 11 hours on his 66th birthday, under suspicion of misconduct in public office.
  • Stephanie Bennett: “Andrew was arrested yesterday morning and held for roughly 11 hours on suspicion of misconduct in public office. It also marked his 66th birthday.” [03:42]
• Investigation relates to sharing confidential documents with Jeffrey Epstein during Andrew's tenure as UK trade envoy.
• He’s been released but remains under investigation; police continue to search his possessions.
  • Stephanie Bennett: “Police also searching of his possessions and all of that as well.” [03:42–04:20]
• King Charles III remarks that “the law must take its course.” [04:20]

Notable Quotes

• President Trump (via Peter Doocy), re: tariff decision:
  “Now I'm ashamed of certain members of the court, absolutely ashamed for not having the courage to do what's right for our country.” [00:28–00:34]
• Lydia, on alien documents:
  “The president announced, based on the tremendous interest shown, I will be directing the secretary of war and other relevant departments and agencies to begin the process of identifying and releasing government files related to alien and extraterrestrial life.” [01:10]
• Rep. Jared Moskowitz (D), on UFOs:
  “Why would something not real be classified? Oh, this is the rare issue uniting Republicans and Democrats who all just seem to want to believe.” [01:35]
• Peter Doocy, on U.S. military build-up:
  “The amount of US Military hardware in the region right now is impressive and imposing, including dozens of F15s, F35s, AWACs, KC135 cargo planes...the USS Gerald R. Ford aircraft carrier strike group passed through the Strait of Gibraltar.” [02:37–03:19]
• Stephanie Bennett, on Prince Andrew’s arrest:
  “Andrew was arrested yesterday morning and held for roughly 11 hours on suspicion of misconduct in public office. It also marked his 66th birthday.” [03:42]

Timestamps of Important Segments

• 00:03 — Supreme Court blocks Trump tariffs; White House response
• 00:52 — Trump promises declassification of alien/UFO documents
• 01:43 — Stock market reaction to court ruling
• 02:31 — U.S. weighs potential military strikes on Iran
• 03:42 — Prince Andrew arrested; investigation and royal reaction

Memorable Moments

• Dramatic response from President Trump on Supreme Court decision
• Commitment to releasing extraterrestrial files, sparking bipartisan interest
• Escalating tension and military posturing in the Middle East
• International intrigue with Prince Andrew’s legal troubles and links to Jeffrey Epstein

This concise newscast highlighted deepening divides in U.S. law and politics, brought unexpected unity over alien files, previewed potential international crises, and covered a shocking development in British royalty—delivering fast-moving updates in FOX News’s signature brisk, urgent tone.