US stocks fell sharply as President Trump continued to criticize Federal Reserve Chair Jerome Powell, calling for interest rate cuts, which raised concerns about the Fed’s independence.
The S&P 500 Index fell 2.9%, with 96% of its stocks trading in the red, as Trump’s trade policies and attacks on the Fed chair fueled concerns about the economy and inflation.
The dollar and Treasuries also declined, with the yield on 30-year bonds rising, as investors worried about the impact of Trump’s actions on the economy and the Fed’s ability to balance growth and inflation. Bloomberg’s Vince Cignarella reports. (Source: Bloomberg)
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It's a 'Matter of Time' Before Powell is Gone: Vincent Cignarella
