Wall Street on Edge: Record Highs Amid Fed Chair Attacks and Tariff Tensions

Hold onto your hats, folks! U.S. stock indices are teetering on the brink of record highs, even as the market wrestles with the latest salvo against Fed Chair Jerome Powell.

The rollercoaster ride continued on Friday, with the Dow Jones plummeting 238 points—that's a gut-wrenching 0.54% drop! The S&P 500 wasn't far behind, slipping 0.14%, while the tech-heavy Nasdaq Composite took a tiny 0.09% hit.

Netflix's earnings report? More like a cliffhanger! Despite beating forecasts, the stock tanked 5% after the company threw investors a curveball with a lower-than-expected guidance. Meanwhile, American Express shares took a 2.5% nosedive, even with solid earnings.

Brace yourselves, because the tariff drama is heating up! Traders are on the edge of their seats watching President Trump ramp up his demands against the EU, cranking the minimum tariff on imports from 15% to a whopping 20%.

This tariff tug-of-war comes hot on the heels of weeks of talks that seemed to settle on a 10% baseline. But Trump wasn't having it—he shot down the EU's offer to ease up on U.S. auto tariffs and hinted that the 25% rate might stick around.

Trump's War of Words with Fed Chair Intensifies

Hold tight, because Trump's feud with Fed Chair Jerome Powell is hitting new heights! The President didn't hold back, slamming Powell as a "numbskull" for not slashing interest rates. Trump's not mincing words, saying those higher rates are making it tougher for young folks to snag a home.

But wait, there's more! Trump didn't stop at calling Powell one of his "worst appointments." He even took a swipe at Joe Biden for reappointing him. And let's not forget the ongoing firestorm over the Fed's jaw-dropping $2.5 billion renovation project.

Trump appointees are up in arms about the renovation, setting the stage for a potential shakeup at the Fed. But hold up—rumor has it that these same appointees pushed for fancy-schmancy marble in the buildings, jacking up the costs even more!