Global equity markets experienced volatility following a series of court rulings on U.S. President Donald Trump's tariffs and the release of Nvidia's quarterly earnings. On May 29, U.S. stocks initially rose as investors anticipated Nvidia's results, but later edged lower after the Federal Reserve released its meeting minutes. The S&P 500 lost 0.53% to 5,889.95, the Nasdaq fell 0.47% to 19,107.89, and the Dow Jones dropped 0.56% to 42,106.41. After the close on May 29, Nvidia reported stronger-than-expected quarterly sales, driven by demand for AI chips ahead of U.S. export restrictions on China. Nvidia's shares gained 3.2% following the results. The company warned that new export curbs could reduce its current-quarter sales by $8 billion. On May 30, a U.S. federal appeals court temporarily reinstated Trump's sweeping tariffs, reversing a trade court's earlier block. This led to renewed uncertainty in global markets. The Nikkei 225 in Japan, which had previously risen by 600 yen on Nvidia's earnings and a weaker yen, fell 542 yen to 37,890.86, dropping below the 38,000 mark. The Topix fell 0.85% to 2,788.17. Exporters and chip-related stocks were among the hardest hit, with Toyota Motor down 1.87%, Honda Motor down 2%, Advantest down 3.7%, Tokyo Electron down 3.5%, and Fast Retailing down 2.35%. Drugmakers Otsuka and Eisai rose 2.59% and 2.77%, respectively. Elsewhere in Asia, South Korea's KOSPI opened lower and declined 0.52% to 2,706.44 late Friday morning. Samsung Electronics rose 1.25%, while SK hynix fell 2.36%. Hyundai Motor dropped 2.36% and Kia fell 3.11%. Samsung Biologics and Celltrion posted modest gains. The yen strengthened to 143.45 against the U.S. dollar. Foreign investors have been net buyers of Japanese equities for eight consecutive weeks, purchasing 285 billion yen in the week ending May 23 and totaling 2.86 trillion yen since April. Japanese companies have announced a record number of share buybacks in 2025. Ongoing trade talks between Japan and the U.S. are underway amid continued market uncertainty.