The US stock indices declined on Monday amidst the increase in the US-China trade war and the possibility of President Donald Trump’s removal of Federal Reserve President Jerome Powell.
EDT at 10:40 pm, Dow Jones Industrial Average fell 1.86%, S&P 500 lost 1.9%, Nasdaq Composite fell 2.29%.
In the initial bell, Dow Jones Industrial Average fell 236.2 points or 0.60%to 38,906.04. S&P 500 fell 49.8 points or 0.94%to 5,232.94, while the NASDAQ composite fell 233.7 points or 1.43%to 16,052.764.
On Friday, the National Economic Council director Kevin Haset said that Trump is studying if he was able to set Powell on fire.
The comments have expressed concern about the freedom of the US central bank.
China on Monday warned of other countries interacting on the “business deals” of the United States as Japan, South Korea and other nations.
Chinese Ministry of Commerce said in a statement, “If this happens, China will never accept it and will take counteers in a mutual way.”
In the bond market, the yield on a 10 -year Treasury was 4.34% from OM to 4.38% on Friday.
The US dollar fell against Euro, Japanese Yen, Swiss Frank and other currencies.
Beneficial and losers
Netflix shares climbed 2.7% after the OTT company posted better than the expected results.
Tesla Stock increased the number of 4.4% on criticism that its price was very high and its brand has become very high with Elon Musk, leading the US government’s efforts to cut spending.
