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A big rally for stocks that began in Asia on Thursday lost steam after sweeping into Europe and the United States amid uncertainty about what will happen next after a U.S. court blocked many of President Donald Trump’s sweeping tariffs.

The S&P 500 rose 0.4% after giving up more than half of an early gain. The Dow Jones Industrial Average added 117 points, or 0.3%, and the Nasdaq composite rose 0.4%.
It’s a downshift after stocks initially leaped nearly 2% in Tokyo and Seoul, where markets had the first chance to react to the ruling late Wednesday by the U.S. Court of International Trade.

The court said that the 1977 International Emergency Economic Powers Act that Trump cited for ordering massive increases in taxes on imports from around the world does not authorize the use of tariffs.