US stocks tumble and dollar hits three-year low as Trump continues to bash Fed Chair Powell
CNN
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.
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 750 points, or 1.9%. The broader S&P 500 fell 2.1%. The tech-heavy Nasdaq Composite slid 2.65%. 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 1.1% 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!” Trump lambasted Powell for not cutting interest rates — a complaint he has levied multiple times against the Fed chair. The diatribe came as the European Central Bank cut its benchmark interest rate and after Powell spoke last week of the potential economic consequences of Trump’s tariff agenda. “If I want him out, he’ll be out of there real fast, believe me,” Trump told reporters in the Oval Office Thursday. “I’m not happy with him.”
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
The United States and China have agreed on a trade framework after two days of negotiations in London, China’s trade negotiator Li Chenggang told reporters on Wednesday, according to Chinese state broadcaster CGTN.
The network is parting ways with its veteran correspondent two days after he posted a missive on X calling the president and his deputy chief of staff “world-class haters.”
A former local news anchor in Shreveport, Louisiana, has sued a rival station for defamation, accusing it of engaging in “character assassination” after it ran a report he says portrayed him as a “child predator.”
Whole Foods employees say a major cyberattack on a leading distributor has left some store shelves and freezers empty.
Popular AI chatbot ChatGPT is experiencing degraded performance after a partial outage on Tuesday, according to parent company OpenAI and the website Downdetector, which tracks outages of major web services.
“The free press is under attack,” Bob Costas said at an awards ceremony Monday evening. “Democracy as we know it is under attack.”
Job insecurity and unaffordable housing are among the biggest reasons why millions of people worldwide can’t have the number of children they want, the United Nations said Tuesday, calling for “urgent action” to address the “fertility crisis.”
At WWDC, Apple said it still needs time to develop its more advanced version of Siri. It’s another sign that shift to AI is unfolding differently from how other major technological advancements have played out, like the internet, social media and the smartphone.
The leaders of a US sex-focused women’s wellness company that promoted “orgasmic meditation” have been convicted of federal forced labor charges.
Apple Intelligence isn’t ready for prime time.
Call it a “chip shortage on steroids.”
US stocks rose Monday and the S&P 500 approached an all-time high as trade talks between the US and China kicked off in London.
Last week, Elon Musk was calling for President Donald Trump’s impeachment. This week, Musk is back to praising the administration, softening his tone after the two powerful leaders’ very public breakup.