Fallout on Wall Street from President Trump's Tariff Warnings

Summary

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Fox News Hourly Update

Fallout on Wall Street from President Trump’s Tariff Warnings

Date: February 23, 2026
Host: Lisa Brady, FOX News Podcasts

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Overview

This episode centers on the economic turbulence triggered by President Trump’s response to a Supreme Court tariff ruling. The report highlights immediate market fallout, reactions from international partners, ongoing winter weather disruptions, notable criminal cases, cultural news, and updates from D.C. All news is delivered with a brisk, matter-of-fact tone typical of FOX’s hourly updates.

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Key Discussion Points & Insights

1. White House and Wall Street React to Tariff Ruling

• Supreme Court Ruling: On Friday, the Court struck down “reciprocal tariffs” imposed last year on nations pursuing new trade agreements with the U.S.
• President Trump’s Reaction: Publicly criticized the ruling and those Justices who joined the majority, branding the decision “ridicul.”
• Trump’s Warning:
  • Quote (Lisa Brady, 00:02): “President Trump warns trading partners not to back away from trade deals after the Supreme Court's tariff ruling... any country wanting to play games will face a much higher tariff rate and worse.”
  • Trump quickly announced a fresh 15% global tariff on imports.
• International Fallout:
  • (Jared Halpern, 00:17): “The European Union is now postponing a vote on a trade agreement struck last year. Seeking more clarity from the Trump administration.”
• Market Impact:
  • (Lisa Brady, 00:43): “Right now, the dow is down 763 points.”
  • All major indices sharply lower.

2. Blizzard Disrupts Travel Nationwide

• Massive Flight Delays: More than 20,000 flights disrupted due to a Nor’easter blizzard in the Northeast.
• Ripple Effect Across U.S.:
  • (Grady Trimble, 00:56): “There’s not a single flake of snow that has fallen here. But that massive blizzard in the Northeast is affecting airports all across the country. The airports in New York and Boston as well as Philadelphia are effectively closed today.”
• Severity:
  • (Lisa Brady, 01:13): “More than a foot of snow in many parts of the region, over 2ft in some areas, and it hasn't stopped snowing yet.”

3. White House Event for 'Angel Families'

• Gratitude to Trump: Families impacted by crimes attributed to illegal immigrants express thanks at a White House event.
• Notable Quote:
  • (Allison Phillips, 01:24): “You are doing a thankless job that most people just wouldn't do. And I just can't thank you enough.”
• Presidential Declaration: Trump declares “National Angel Families Day.”

4. High-Profile Criminal Case

• Actor Rob Reiner’s Family Tragedy:
  • (Lisa Brady, 01:40): “The son of actor and director Rob Reiner has just pleaded not guilty to first degree murder... Nick Reiner remains held without bail in Los Angeles.”

5. Economic Snapshot: Netflix’s Influence

• Netflix’s National Impact:
  • (Fox Business Correspondent, 02:00): “Over the past 10 years, Netflix has contributed $225 billion to the US economy... hired over 150,000 Americans as cast and crew. Carpenters, electricians, small businesses—real American jobs. Netflix investing in America.”

6. Ongoing Fallout from Epstein Files

• Arrests Abroad:
  • Former Prince Andrew arrested in Britain for potentially passing confidential information to Jeffrey Epstein.
  • Peter Mandelson, former UK Ambassador to the U.S., arrested after his close relationship with Epstein comes to light.
• Commentary:
  • (Unknown Analyst, 02:44): “It was Peter Manderson himself who suggested that Prince Andrew should become the trade envoy. And it was from that role that Prince Andrew started potentially leaking documents back to Jeffrey Epstein.”

7. Washington Politics and State of the Union

• Special Guests at SOTU:
  • (Lisa Brady, 03:04): “House Speaker Mike Johnson says the gold medal winning US Hockey teams from the Winter Olympics might be attending the State of the Union address tomorrow night... Minnesota Democratic Congresswoman Ilhan Omar announcing that two of her guests for the speech will be Minneapolis residents who were detained by ICE.”

8. Entertainment Highlights: BAFTA Surprises

• Robert Amayo Takes Best Actor:
  • (Unknown Entertainment Reporter, 03:35): “‘I Swear’ star Robert Amayo winning best actor at the British movie industry's major awards show.”
• Notable Reactions:
  • (Unknown Analyst, 03:42): “Wow, I can't believe this. It really blows my mind.”
• Major Upset:
  • “Marty Supreme” leaves empty-handed despite 11 nominations. “One Battle After Another” wins big, including best film, best director, and best supporting actor for Sean Penn.

9. Stock Market Recap

• Major Declines:
  • (Lisa Brady, 04:17): “The Dow tumbles back under 49k, the S&P and the Nasdaq also plummeting more than 1%.”

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Notable Quotes & Memorable Moments

• Presidential Threat on Tariffs:
  • Lisa Brady [00:02]: “Any country wanting to play games will face a much higher tariff rate and worse.”
• European Union’s Uncertainty:
  • Jared Halpern [00:17]: “The EU is now postponing a vote... seeking more clarity from the Trump administration.”
• On the Blizzard:
  • Grady Trimble [00:56]: “There’s not a single flake of snow here. But that massive blizzard in the Northeast is affecting airports all across the country.”
• ‘Angel Families’ Gratitude:
  • Allison Phillips [01:24]: “You are doing a thankless job that most people just wouldn't do.”
• Netflix’s Economic Role:
  • Fox Business Correspondent [02:00]: “Netflix has contributed $225 billion to the US economy... real American jobs, Netflix investing in America.”
• On BAFTA Upset:
  • Unknown Analyst [03:42]: “Wow, I can't believe this. It really blows my mind.”

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Timestamps for Key Segments

• Tariff Fallout & Market Reaction: 00:02 – 00:43
• Blizzard & Travel Disruption: 00:43 – 01:13
• Angel Families Day at White House: 01:13 – 01:32
• Rob Reiner Murder Case: 01:40 – 02:00
• Netflix Economic Impact: 02:00 – 02:30
• UK Epstein Fallout: 02:30 – 03:04
• SOTU Guest Highlights: 03:04 – 03:35
• BAFTA Awards: 03:35 – 04:17
• Stock Market Recap: 04:17 – 04:32

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This tightly packed update provides a rapid-fire snapshot of national and global headlines, marked by the economic and political tremors following Trump’s tariff escalation, crises on Wall Street, weather emergencies, and news from the arenas of justice and entertainment.

Transcript

[Lisa Brady]

Fallout on Wall Street. Lisa Brady, FOX News. As President Trump warns trading partners not to back away from trade deals after the Supreme Court's tariff ruling, the president posting that any country wanting to play games will face a much higher tariff rate and worse.

[Jared Halpern]

The threat comes after Friday's Supreme Court ruling striking down reciprocal tariffs imposed last year on dozens of countries seeking new trade agreements with the US President Trump has harshly criticized justices who joined the majority opinion calling the ruling ridicul and has imposed a 15% global tariff on imports. Still, the European Union is now postponing a vote on a trade agreement struck last year. Seeking more clarity from the Trump administration,

[Lisa Brady]

Fox's Jared Halpern the White House. Right now, the dow is down 763 points. More than 20,000 flights disrupted through tomorrow because of the Northeast blizzard. FOX Business Grady Trimble at Chicago's o' Hare Airport.

[Grady Trimble]

And what we're seeing here is the ripple effect because remember, there's not a single flake of snow that has fallen here. But that massive blizzard in the Northeast is affecting airports all across the country. The airports in New York and Boston as well as Philadelphia are effectively closed today.

[Lisa Brady]

More than a foot of snow in many parts of the region, over 2ft in some areas, and it hasn't stopped snowing yet. Families who've lost loved ones to crimes blamed on illegal immigrants thanking President Trump for securing the border during a White House event, including Allison Phillips, whose daughter Lake and Riley was killed in Georgia. You are doing a thankless job that most people just wouldn't do. And I just can't thank you enough. The president declaring National Angel Families Day. The son of actor and director Rob Reiner has just pleaded not guilty to first degree murder in the December killing of his parents. Nick Reiner remains held without bail in Los Angeles. America is listening to FOX news.

[Unknown Fox Business Correspondent]

Let's talk about Netflix, but I don't want to talk about their shows and movies. I want to talk about the economic impact Netflix makes in this country. Over the past 10 years, Netflix has contributed $225 billion to the US economy. They brought productions to all 50 states and hired over 150,000Americans as cast and crew. Carpenters, electricians, small businesses, real American jobs, Netflix investing in America.

[Lisa Brady]

Just days after the arrest of Britain's former Prince Andrew, after under investigation for possibly giving confidential information to Jeffrey Epstein, former UK Ambassador to the US Peter Mandelson is now also arrested after the recent release of the Epstein files.

[Unknown Analyst/Commentator]

To watch the videos and the pictures come out of the relationship between Peter Mandelson and Jeffrey Epstein. And it turns out that the relationship there was incredibly close and that it was Peter Manderson himself who suggested that Prince Andrew should become the trade envoy. And it was from that role that Prince Andrew started potentially leaking documents back to Jeffrey Epstein.

[Lisa Brady]

Fox's Benjamin hall in London. The 72 year old Mandelson arrested on suspicion of misconduct in public office. House Speaker Mike Johnson says the gold medal winning US Hockey teams from the Winter Olympics might be attending the State of the Union address tomorrow night, though he adds they're still working on logistics. Meantime, Minnesota Democratic Congresswoman Ilhan Omar announcing that two of her guests for the speech will be Minneapolis residents who were detained by ice. An underdog surprise at the BAFTAs an awards show seen as a bellwether for the Oscars.

[Unknown Entertainment Reporter]

I Swear. Star Robert Amayo winning best actor at the British movie industry's major awards show.

[Unknown Analyst/Commentator]

Wow, I can't believe this. It really blows my mind.

[Unknown Entertainment Reporter]

The EE British Academy Film Awards on BBC. The British actor who depicted the life of a campaigner for Tourette syndrome, beating out competition from Hollywood heavy hitters like Leonardo DiCaprio and Timothy Chalamet, star of Marty supreme, which was the biggest loser of the night. Zero awards despite going in with 11 nominations. One battle after another, winning six categories including best film, best director and best supporting actor for Sean Penn. Lillian Wu, FOX News Recapping stocks as

[Lisa Brady]

the Dow tumbles back under 49k, the S& P and the Nasdaq also plummeting more than 1%. And Lisa Brady, FOX News this is Ainsley Earhart. Thank you for joining me for the fif episode podcast series the Life of

[Jared Halpern]

Jesus, a listening experience that will provide hope, comfort and understanding of the greatest story ever told. Listen and follow [e-mail] or wherever you listen to podcasts.