Stocks Crash as Trump Slams Fed, Rattles Trade: Dow Tanks 971 Points!

Wall Street took a nosedive on Monday after Donald Trump unleashed a barrage of attacks on Federal Reserve Chair Jerome Powell and threw trade policy into a tailspin, sending investors into a frenzy.

The Dow Jones Industrial Average plummeted a staggering 971 points, a gut-wrenching 2.48% drop. The S&P 500 and Nasdaq Composite weren't spared either, each shedding over 2.36% and 2.55%. Tech stocks led the brutal sell-off, with Tesla and Nvidia tanking 7% and 6%, while Amazon, AMD, and Meta each cratered around 4%.

In a fiery Truth Social post, Trump blasted Powell as "Mr. Too Late, a major loser," demanding the Fed slash interest rates ASAP.

The former prez has even hinted at booting Powell from his post, sparking fears about the central bank's independence.

The dollar took a beating, hitting its lowest level since 2022, while gold skyrocketed past $3,400 an ounce for the first time ever.

Bitcoin (BTC) also went on a wild ride before settling above $87,000.

China VS. USA

Markets are also reeling from escalating trade tensions. China slammed the brakes on U.S. commodity imports last month, with some items seeing a total import freeze as the trade war between the world's two biggest economies heated up.

China fired off fresh warnings to countries flirting with U.S. trade deals that could threaten Chinese interests.

Since Trump dropped a bombshell new round of tariffs on April 2, the S&P 500 has tanked over 8%, with the Nasdaq and Dow plunging nearly 10% and 9%.

As earnings season kicks into high gear, all eyes will be on Tesla and Alphabet's reports for any signs of more cracks in the economy.