Overview

• Major U.S. stock indices fell sharply on April 21, with the Nasdaq down 3.06%, the S&P 500 down 2.07%, and the Dow Jones down 2.7%.
• The dollar weakened significantly, with the euro reaching $1.15, its highest level against the dollar since 2021.
• President Trump criticized Federal Reserve Chair Jerome Powell on social media, accusing him of acting too late on rate cuts and calling for his dismissal.
• White House economic adviser Kevin Hassett confirmed the administration is studying legal options to remove Powell as Fed Chair.
• The European Central Bank recently cut interest rates by 25 basis points, contrasting with the Federal Reserve's decision to hold rates steady amid trade tensions.