Markets Plummet After Trump Attacks “Loser” Fed Chair

Yahoo Finance reports:

US stocks fell sharply Monday as President Trump hurled more social media insults toward Fed Chair Jerome Powell, sparking concerns of Fed independence at a time when markets are still reacting to the president’s whipsawing tariff policy. The S&P 500 was down over 2.7%, while the tech-heavy Nasdaq sank 3%, leading the way down. The Dow Jones Industrial Average dropped 2.6%, over 1,000 points.

Trump has repeatedly criticized Powell for allegedly keeping interest rates too high, with his latest insult posted on Monday morning, warning that the economy could slow “unless Mr. Too Late, a major loser, lowers interest rates, NOW.” Trump’s new focus on Powell comes after the Fed chief delivered a stark warning about the potential effects of tariffs on the economy.

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