US stocks and the dollar tumbled Monday as investors assessed continued tariff uncertainty and the implications of President Donald Trump’s ongoing mission to try and oust Federal Reserve Chair Jerome Powell.
The Dow fell more than 1,000 points, or 2.6%. The broader S&P 500 fell 2.66%. The tech-heavy Nasdaq Composite slid 3%. Stock futures had slumped in premarket trading after the three major indexes closed last week in the red.
The US dollar index, which measures the dollar’s strength against six foreign currencies, slumped 0.9% to its lowest level in more than three years.
Wall Street has been on edge since Trump on Thursday lashed out at Powell and said on social media that his “termination cannot come fast enough!”
I am more shocked that it is as high as it is. I suspect it is as high as it is because of micro trading, but I am no stock market expert.
Yeah. Speculation I saw is that most of these are scheduled buys combined with people who think/hope they are “buying the dip”.