2 weeks Ago By France 24
US stocks and the dollar plunged on Moday as President Donald Trump intensified his attacks on US Federal Reserve chair Jerome Powell calling him "a major loser" for not lowering interest rates. Gold prices hit a fresh record on Monday while the dollar tumbled further along with Wall Street equities as President Donald Trump again slammed Federal Reserve Chair Jerome Powell. US equities had opened the session lower, but stumbled further shortly after the opening bell when Trump called Powell a "major loser" for not cutting interest rates in a social media post, underscoring questions about whether Trump will attempt to fire Powell after threatening the action last week.
Worries about such a move gyrated through US markets on a day when many global markets were still closed for the Easter holiday. All three major equity indices finished down by around 2.5 percent while the US dollar retreated and Treasury bond yields moved higher.
Gold prices soared to a fresh record above $3,400. Read more US stocks, dollar slide as Fed chair warns tariffs likely to spur inflation There is a "narrative of weakening demand for US assets," said Briefing.com analyst Patrick O'Hare.
Investors view this tradition as foundational to American markets. However, China warned governments on Monday not to seek an agreement that compromised Beijing's interests. Read more on FRANCE 24 English Read also: Trump says tariff policy 'doing really well' after China hits US with 125% levy Trump warns of 'transition cost' as uncertainty over tariffs lingers.
