Monday Wall Street is a short trading week and the stocks have dropped sharply with the return from President Trump Renew his criticism Jerome Powell, the Federal Reserve Chair, brands him as “Major Hare”.
S&P 500 stood at 5,124 in the last trading of the last afternoon by 500 points or 3%, while the Dau Jones industry was on average 1,159 points or 3%. Technology-hand Nasdak composit is more severely submerged, with a decrease of 5.2%.
Stocks were reduced as investors jumped with the uncertainty of the ongoing tariffs and this week US technology companies are awaiting the release of earnings.
As a good part of the world around Europe, including Hong Kong and Australia, global activities are light on Monday – Easter is closed for Monday.
Out of the stock market, the dollar index has gone to its lowest level after weakening the value of the currency after 2022, when another record of gold reached height. With the rise of long -term Treasury yields, these movements, signal investors are gradually concerned about the protection of US wealth.
Pressure on Powell
The start of the US stock market on Monday followed another unstable week in the stock market because investors considering how the Trump administration’s tariff and a potential Fed Shakeup could affect economic activities.
“Despite recent relief for electronic goods, the tariffs on China have been stalled in some trade activities,” said Tim Duwan, chief economist of SGH Macro Advisors.
Stock Take a hit Chief Powell warned after Fed last Wednesday that the tariff could Run our inflation And increase the steme.
President Trump and his party have floated the idea of dismissing Powell, who tap Mr Trump to lead the central bank during his first term in 2017. Although many legal experts – and Powell himself said that the President lacks the authority to dismiss a Fed Chief, Mr. Trump’s intense criticism has encouraged investors anxiety that the White House could reduce the criteria and try to replace the mid -bank’s chief.
Referring to Powell, Mr Trump on Monday told about the true social that the economy could be slow “If Mr Mr is not too late, the interest rate does not decrease now.”
Mr. Trump has imposed increasing pressure on Powell to reduce the interest rate on the benchmark, which will encourage economic growth but will also risk inflation.
“The problem is that Powell’s term should still go for more than a year when Trump’s tariffs have not even been displayed on information, which means that the fight between Fed and the White House may be worse in the coming months,” the Vital Knowledge of Vital Knowledge chief Adam Christly said in a report.
From the 5th, a Landmark Landmark of the Supreme Court has supported the independent authority of the Roy Fed and will make Powell difficult to dismiss Powell before its expiry on May 7, 2026. However, the FIED cannot stand up against the interest rate of the Fed until Fed has more economic information on how the Fed further influences the economy.
“I strongly hoping that we don’t take ourselves in an environment where financial freedom is questioned,” Chicago President Astan Golsby fed Stated Waizia Ziang, a senior White House correspondent at CBS News, faces the nation yesterday. “Because it will reduce the credibility of the Fed.”
Spotlight
This week, investors will also concentrate on corporate income of big technology players. These companies, known as “Magnicent Seven”, include Amazon, Google-Pita alphabet, Apple, Facebook-Pita meta platform, Microsoft, Nvidia and Tesla.
Big Tech Group stocks were whipped in recent weeks after the Trump administration imposed tariffs and was then backtrack, later high -tech products would be announced, if only temporarily.
From the inauguration of Mr. Trump on January 26, the combined market price of Magnicent Seven has dropped to $ 3.8 trillion or 22%until April 20.
Contributed to this report.
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