The Dow plunges 1,000 points and the Nasdaq reels as Trump attacks Powell again

Source: msn




Story by Catherine Baab • 29m •


U.S. stocks dropped sharply on Monday, continuing a volatile stretch for Wall Street as geopolitical tensions, earnings anxiety, and Fed uncertainty collide.

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Meanwhile, the U.S. dollar fell to a three-year low, and stocks fell further after President Donald Trump again fiercely criticized Federal Reserve Chair Jerome Powell, escalating his pressure campaign on the central bank to cut interest rates.

“‘Preemptive Cuts’ in Interest Rates are being called for by many,” Trump said on his social media site Truth Social. “With Energy Costs way down, food prices (including Biden’s egg disaster!) substantially lower, and most other ‘things’ trending down, there is virtually No Inflation. With these costs trending so nicely downward, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW.”

His latest salvo against Powell came days after he said the central bank chief’s.........


Read more: https://www.msn.com/en-us/money/savingandinvesting/the-dow-plunges-1-000-points-and-the-nasdaq-reels-as-trump-attacks-powell-again/ar-AA1DjVYq?ocid=winp1taskbar&cvid=68067dd0c1b94f599832fdad966b7fa7&ei=28

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https://www.msn.com/en-us/money/watchlist?id=a6qja2&noti=Price&ocid=winp1taskbar&cvid=6b3f7cf7b2944db7a6a75c5da21c40d5&ei=12


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