US Stocks tumble as Trump criticizes Fed chair Powell; Dow dips 700 Points – Times of India

US shares fell sharply on Monday following a brand new spherical of criticism from President Donald Trump in the direction of Federal Reserve Chair Jerome Powell. Trump, in a submit on Reality Social, referred to Powell as “Mr. Too Late, a significant loser” and reiterated his demand for quick rate of interest cuts.
As of 10:30 a.m. ET, The Dow Jones Industrial Common dropped 735.24 factors (-1.88%), closing at 38,406.99, whereas the S&P 500 fell 109.53 factors (-2.07%) to five,173.17. The Nasdaq additionally skilled a big decline, dropping 417.11 factors (-2.56%) to complete at 15,869.34, at .
The downturn was exacerbated by losses in main expertise shares, with Tesla dropping 7%, Nvidia falling 5%, and Amazon shedding 4%. Superior Micro Gadgets and Meta Platforms each noticed a decline of 3%, and Caterpillar dropped 3%.
The market’s decline coincided with an extra weakening of the US greenback, which hit a 3-yr low, whereas gold surged to new heights, rising 3.32% to $3,438.90 per ounce.
Analysts famous that Trump’s feedback, mixed with rising issues over inflation dangers as a consequence of potential tariff-induced value hikes, contributed to investor unease. Adam Crisafulli of Important Data said, “Buyers are coping with a recent supply of macro anxiousness: Trump’s threats to Fed independence.”, as per CNBC report.
In the meantime, Asian inventory markets have been largely greater on Monday, even as US futures declined and investor sentiment remained cautious forward of main tech earnings reviews and lingering issues over President Donald Trump’s commerce insurance policies.
Futures for the S&P 500 dropped 1.1%, whereas Dow Jones Industrial Common futures fell 0.9%. Oil costs additionally declined, with US benchmark crude shedding $1.24 to $62.77 per barrel and Brent crude falling $1.23 to $67.02.
Markets in a number of international locations, together with the US, Hong Kong, and Australia, have been closed for Easter holidays.
Tensions surrounding the US commerce battle underneath President Trump proceed to weigh on international markets.
In the meantime, Asian inventory markets have been largely greater on Monday, even as US futures declined and investor sentiment remained cautious forward of main tech earnings reviews and lingering issues over President Donald Trump’s commerce insurance policies.
Futures for the S&P 500 dropped 1.1%, whereas Dow Jones Industrial Common futures fell 0.9%. Oil costs additionally declined, with US benchmark crude shedding $1.24 to $62.77 per barrel and Brent crude falling $1.23 to $67.02.
Markets in a number of international locations, together with the US, Hong Kong, and Australia, have been closed for Easter holidays.
Tensions surrounding the US commerce battle underneath President Trump proceed to weigh on international markets. Economists have warned that sustained and aggressive tariff measures may push the worldwide financial system towards a recession. Moreover, a weakening US greenback—falling to 140.76 yen, its lowest since September—has raised issues a few potential erosion in investor confidence within the US as a secure-haven vacation spot.
“The reputational hit to the US model is actual, and it’s not fading quietly into the following information cycle,” stated Stephen Innes of SPI Asset Administration in a notice.
The euro additionally climbed to $1.1473 from $1.1404.
Investor focus this week is on the earnings season for the “Magnificent Seven” tech corporations: Apple, Microsoft, Nvidia, Amazon, Tesla, Google mum or dad Alphabet, and Fb mum or dad Meta. As of April 20, their mixed market worth had fallen by $3.8 trillion, or 22%, since Trump’s inauguration.
Tesla is ready to report its full first-quarter financials on Tuesday, following an earlier disclosure of a 13% yr-over-yr drop in automobile deliveries. The electrical carmaker has important manufacturing operations in Shanghai.
In Japan, the Nikkei 225 fell 1.3% to 34,279.92, pressured by uncertainty over commerce negotiations with the US Japanese automakers face a 25% tariff on auto and elements exports to the US
China’s Shanghai Composite rose 0.5% to three,291.73, and South Korea’s Kospi edged up 0.2% to 2,488.42. India’s Sensex climbed 1.1%, whereas Taiwan’s Taiex slipped 1.5%.
Bitcoin gained practically 3.5% to round $87,580.
Within the bond market, the yield on the ten-yr US Treasury notice rose to 4.36% from 4.32% on Thursday. US inventory markets have been closed Friday; on Thursday, the Dow misplaced 1.3%, the S&P 500 edged up 0.1%, and the Nasdaq fell 0.1%.