The Globe and Mail reports in its Friday edition that Canada's main stock index fell and U.S. markets rose Thursday as investors reacted to U.S. court decisions blocking -- and then temporarily reinstating -- many of President Donald Trump's tariffs. A Reuters dispatch to The Globe says the U.S. Court of International Trade ruled on Wednesday that Mr. Trump does not have the authority to impose tariffs on nearly every country using the International Economic Emergency Powers Act. The decision blocked both the "Liberation Day" duties and the tariffs on Canada and Mexico purportedly tied to fentanyl, but not separate levies on Canadian steel, aluminum and cars. Market reaction to the earlier decision from the lower court had been relatively muted, likely because most stock valuations have already baked in positive tariff news, said Candice Bangsun at Fiera Capital in Montreal. The S&P/TSX Composite Index was down 72.89 points at 26,210.56. The losses in Toronto were largely due to a drop in oil prices. West Texas Intermediate crude was down 90 U.S. cents at $60.94 (U.S.) a barrel. The financials sector also fell 0.6 per cent and consumer staples was down 0.8 per cent. RBC missed analysts' quarterly profit estimates.