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2w ago

Trump's Criticism of Fed Chair Powell Fuels Market Turmoil

Global markets remain volatile as U.S. stocks show signs of recovery after Monday's sharp sell-off, with gold hitting record highs and investor concerns over Fed independence persisting.

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The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. REUTERS/Chris Helgren/File Photo
Traders work with a floor official (2nd L) on the floor of the New York Stock Exchange (NYSE) February 5, 2016. REUTERS/Brendan McDermid

Overview

  • President Donald Trump's public criticism of Federal Reserve Chair Jerome Powell, including calls for rate cuts and labeling Powell a 'major loser,' has raised concerns about Fed independence.
  • The Dow Jones fell over 1,000 points on Monday, with major U.S. indexes declining 2–3%, while gold surged to record highs above $3,500 as investors sought safe-haven assets.
  • Global markets displayed mixed reactions, with European stocks dipping, Asian markets trading cautiously, and U.S. stock futures rebounding slightly on Tuesday morning.
  • Uncertainty surrounding U.S. trade policies, including reciprocal tariffs and ongoing negotiations, continues to amplify investor anxiety and market volatility.
  • Corporate earnings reports, including those from Tesla and Lockheed Martin, are being closely watched for insights into how companies are navigating economic and policy challenges.