This live blog is refreshed periodically throughout the day with the latest updates from the market.To find the latest Stock Market Today threads, click here.

Happy Monday. This is TheStreet’s Stock Market Today for Feb. 23, 2026. You can follow the latest updates on the market here in our daily live blog

Update: 9:46 a.m. ET

Opening Bell

The U.S. stock market is now open for the week. A few minutes into the trading day, stocks are markedly lower, declining as investors digest new tariff uncertainty.

As aforementioned in our brief A.M. update, President Donald Trump announced a new 10% global tariff on Friday. This weekend, he bumped that figure up to 15% given frustration with the Supreme Court’s determination on his use of emergency powers to impose sweeping tariffs.

The President holds that he should have the ability to skip Congress and impose these tariffs himself, despite the disagreement of six of the nine Justices on the court. Adding to confusion, Trump will now impose tariffs under different legislation, but the new global rate will only apply for a period of 150 days. It will then need to be renewed by Congress.

As a result, U.S. equities are declining this morning given the new confusion. The Dow (-0.52%) is worst-situated this morning, down 227.8 points out of the gate. The Russell 2000 (-0.35%) and Nasdaq (-0.32%) are kindred spirits, trading in close succession.

In total, over 55% of U.S. issues are declining this morning against 40% which are advancing; that’s a rough start to the trading week.

Meanwhile, the S&P 500(-0.21%) is in the best shape, despite a modest increase in the Cboe Volatility Index (+3%) this morning.

In Focus: S&P 500

Despite the shoddy start to the day, only five S&P 500 sectors are in the red this morning.

Leading the pack are utilities (+1.05%), energy (+1.01%), and health care (+1.01%).

Facing declines are discretionary (-1.06%), tech (-0.39%), and financials (-0.30%).

Investors could warm up to the S&P 500 as the morning progresses, but for the moment, the losses appear to be steepening.

Uh Oh, Novo

Aside from the tariffs, arguably the biggest story out this morning is fresh data from Novo Nordisk, which is down 15% after its new weight loss drug CagriSema disappointed in its REDEFINE 4 trial.

The stock hit its lowest level since Jun. 2021 after CagriSema patients lost 23% of their body weight after 84 weeks, failing to demonstrate “non-inferiority on weight loss” when compared with competitor Zepbound by Eli Lilly, which saw patients lose 25.5 of their body weight.

Update: 8:32 a.m. ET

A.M. Update

Eli Lilly rose 3% on the news. Good morning. The stock market is slated to open slightly lower today after a memorable Friday of trading, which saw U.S. stocks rise after the Supreme Court struck down President Donald Trump’s sweeping emergency power tariffs.

He returned the favor by imposing a 10% tariff, followed by a promise to replace it with an even higher 15% tariff on all global goods.

Earnings Today

Here is today’s news: Here are the top earnings reports today, sorted by market cap.

Data Today

It’s set to be a light day for economic data. Here are today’s biggest reports: