U.S. Stocks Plummet Amid Trade War Jitters and Fed Bashing!

Hold onto your hats, folks! U.S. stocks are getting hammered as the ongoing trade war drama and relentless attacks on the Fed send investors scrambling for the exits.

The market's reeling from President Donald Trump's trade war chaos and his relentless jabs at the Federal Reserve, causing investors to dump the U.S. dollar and stocks like hot potatoes. By late afternoon, the DOW Jones was down a staggering 976.23 points or 2.49% since early afternoon, while the S&P 500 took a 2.63% hit in the same period. And get this, the tech-heavy Nasdaq index? It tanked even harder, dropping 2.97%!

Meanwhile, the U.S. dollar index hit rock bottom at 97.92, its lowest since 2022. Trump's escalating verbal assault on Fed Chair Jerome Powell has got investors seriously questioning whether the Fed can keep its cool and stay independent.

But here's a twist—Bitcoin (BTC) soared to a daily high of $88,460, hinting that some savvy traders might be eyeing it as a safe haven amidst the dollar's nosedive. And gold? It's shining bright, up 2.95% to $3,413 per ounce.

Trump Ramps Up Pressure on Fed Chair to Slash Rates

Get this, on Monday, April 21, Trump took to Truth Social and blasted Powell as a "major loser" and "Mr. Too Late," demanding he cut interest rates to save the floundering stock market. Trump's spinning it that lower energy prices, thanks to recession fears, could cushion any inflation from a rate cut.

But Powell? He's not buying it. He's been skeptical about easing monetary policy, and in a March speech, he said the U.S. economy's doing just fine, despite the wild market swings. He pointed to strong employment numbers, suggesting the Fed's got time to play its cards right.

Since day one, the Federal Reserve's been setting monetary policy without Washington breathing down its neck, just like all the big central banks out there. This independence is crucial for keeping our currency strong and fending off those pesky political pressures pushing for devaluation.