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last wk.

Markets Face Renewed Turmoil as Tariff Fallout and Fed Concerns Escalate

Global markets enter a critical week with stock futures down, the dollar weakening, and gold reaching record highs as investors brace for corporate earnings and economic data.

Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won, top center, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, April 21, 2025. (AP Photo/Ahn Young-joon)
U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration
A currency trader works near a screen showing the Korea Composite Stock Price Index (KOSPI), top left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, April 21, 2025. (AP Photo/Ahn Young-joon)
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Overview

  • President Trump's April 2 tariff announcement continues to disrupt markets, with major U.S. stock indexes logging their third weekly decline in four weeks.
  • The U.S. dollar has dropped to multi-year lows against major currencies, as fears grow over the Federal Reserve's independence following Trump's criticism of Chair Jerome Powell.
  • Gold prices have surged to a record high of $3,370.17 per ounce, reflecting heightened demand for safe-haven assets amidst economic uncertainty.
  • Investors are focusing on a packed earnings week, with Tesla, Alphabet, and Boeing among key companies set to report, alongside critical economic indicators like PMI and the Fed's Beige Book.
  • Billionaire Ken Fisher warns that prolonged tariffs could push the U.S. into recession by year-end, emphasizing the need for a resolution to ongoing trade disputes.