American stock below 2% in early trading amid trump attacks
US dollar index decreases by three years
Safe Heaven Gold and Swiss Frank Surge
European markets closed for Easter Monday
(Update with initial US market activity)
New York, 21 April (Reuters) – The US stock index collapsed and dollar index slipped to a three -year low on Monday as US President Donald Trump’s Federal Reserve Chair and the bank’s monetary policy shook investors.
The prices of safe-heven gold hit another record high, while Swiss Frank also increased. Benchmark US Treasury Yield higher higher.
Trump on Monday reiterated his criticism of Fed Chair Zerome Powell and said that the US economy could slow down until the interest rates are immediately reduced.
White House Economic Advisor Kevin Haset said on Friday, when many markets were closed, that Trump and his team would study the matter when they were asked if firing Powell was an option. Trump carried out a brilliant attack against Powell on Thursday.
The comments on Powell expressed concern about Fed’s freedom in establishing monetary policy paths and approach to American assets.
“Powell’s comments on Powell are pressurizing American assets, including stock and long treasury at Powell,” said Wel Hartman, US Rate Strategist at BMO Capital Markets in New York, which includes stock and long treasury. ”
Chicago Federal Reserve President Auston Gulasbi said on Sunday that he hoped that the United States is not going into an environment where political pressure is questioned by the central bank’s ability to determine independent monetary policy.
Fed has left its benchmark policy rate in the range of 4.25% to 4.50% since December after a series of rate cuts at the end of last year.
Dow Jones Industrial Average fell to 937.33 points, or 2.39%, 38,205.01, S&P 500 fell to 128.08 points, or 2.43%, 5,154.25 and Nasdaq Composite 446.75 points, or 2.75%.
MSCI’s gauge gauge worldwide fell to 7.78 points, or 0.98%, 785.64.
Most of the markets were closed on Friday and some, most of Europe, remained on holiday for Easter Mondays, diluted compared to normal liquidity.
Against a basket of currencies, the dollar decreased as 97.923, the lowest since March 2022. The currency also became a decade against Swiss Frank, while the euro was shortened above $ 1.15.
The euro was 0.94% at $ 1.1498. Against the Japanese Yen, the dollar weakened 0.98%. Against Swiss Frank, the dollar fell 1.07% to 0.808.
Cryptocurrency rose. Bitcoin rose 3.88% to $ 88,384.03. Ethereum increased 3.07% to $ 1,638.04.
The yield on benchmark US 10-year-old notes rose from 4.327% to 1.9 base points to 4.346% on Thursday.
Spot gold rose 2.6% to $ 3,414.91 one ounce on 09:26 AM ET (1326 GMT). Prices had a record high level in prices in sessions.
Trump’s tariff has cried financial markets in recent weeks and remains a major concern for investors.
China on Monday accused Washington of abusing tariffs and warning the countries against attacking the Create Economic Agreement with the United States at its expense, making its rhetoric in the recent trade war between the countries.
The results of the first quarter from American companies continue to roll with a report of top names such as alphabet due to this week.
Companies and investors are struggling with a tariff landscape that is likely to move as interaction with the Trump administration countries.
Oil prices were low. The US crude fell by 2.66% to $ 62.96 and Brent fell to $ 66.12 per barrel, down 2.71% a day.
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