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4w ago

Markets Slide as Trump’s Tariff Policies and Powell Criticism Shake Confidence

U.S. stock futures drop sharply while safe-haven assets surge, reflecting investor unease over trade war escalation and threats to Federal Reserve independence.

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A screen shows a business television channel as Canada's main stock index, the Toronto Stock Exchange's S&P/TSX composite index, rose to a record high in late morning trade in Toronto, Ontario, Canada January 7, 2021. REUTERS/Carlos Osorio/File Photo

Overview

  • U.S. stock futures fell on Monday, with the Dow down over 500 points, as President Trump’s tariff policies and attacks on Federal Reserve Chair Jerome Powell rattled market confidence.
  • Gold reached a record high of over $3,430 per ounce, and Bitcoin surged toward $88,000 as investors sought safe-haven assets amid dollar weakness.
  • The Magnificent Seven tech companies, including Tesla and Alphabet, prepare to report earnings after a combined $3.8 trillion loss in market value since Trump’s inauguration.
  • Asian markets showed mixed reactions, with Japan’s Nikkei falling 1.3% and China’s Shanghai Composite rising 0.5%, as trade tensions continued to weigh on sentiment.
  • Oil prices declined by more than $1 per barrel following progress in U.S.-Iran nuclear talks, easing concerns over potential Middle Eastern supply disruptions.