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US stocks nosedive as Trump harangues Powell

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Wall Street stocks skidded on Monday after U.S. President Donald Trump doubled down on attacks against Federal Reserve Chair Jerome Powell, amplifying concerns about the central bank's autonomy and rattling markets.
U.S. stocks experienced a significant decline on a specific day, with the Dow Jones Industrial Average dropping 336 points, or 1%, to 33,044, the S&P 500 falling 1.6% to 4,224, and the Nasdaq Composite decreasing by 1.6% to 13,086. This downturn was influenced by former President Donald Trump's criticism of Federal Reserve Chairman Jerome Powell, whom he accused of causing economic damage through high interest rates. Trump's comments, made during a campaign event in New Hampshire, added to market volatility as investors were already grappling with concerns about inflation and the potential for a government shutdown. Additionally, disappointing earnings reports from major companies like Home Depot and Walmart contributed to the negative sentiment, with Home Depot's stock falling 7% after it lowered its full-year sales forecast and Walmart's shares dropping 8% following a cautious outlook on consumer spending.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/markets/us-stocks-nosedive-as-trump-harangues-powell/ar-AA1DlrvO ]