From Morningstar: 2025-04-22 05:42:00

European stock markets opened lower after the Easter break and the dollar hit a three-year low amid drama from the US Trump administration over interest rates. President Trump called Federal Reserve chair Jerome Powell a “loser” and urged rate cuts to prevent an economic slowdown. STOXX Europe 600 index fell by 0.50%.

Orsted, Novo Nordisk, and Zealand Pharma were the biggest fallers on Tuesday, with losses around 7% due to positive results from an obesity pill trial by US competitor Eli Lilly. The dollar hit a three-year low against the euro and gold prices reached a high of $3,500 before retreating slightly.

US stock futures indicate a higher opening in the US after a 1.60% fall on Monday. The yield on the 10-year US Treasury was steady at 4.41%. In the UK, the FTSE 100 opened slightly down but then edged higher, led by miners and supermarket retailers Tesco and Sainsbury’s.

US markets reacted negatively to Trump’s Fed comments out of fear of destabilizing the financial system and uncertainty around the US’s “safe haven” status. Central banks may need to cut rates to stimulate economic activity and ease debt pressure. The European Central Bank has already cut rates amid a deteriorated economic growth outlook.



Read more at Morningstar: Dollar Slides and Gold Hits New Record as Trump…