Dow and Nasdaq drop after Trump criticizes Powell, raising concerns about U.S. economy's future.

From Nasdaq.: 2025-04-21 16:25:00

The Dow and Nasdaq both dropped significantly on Monday, with the S&P 500 also selling off after President Trump criticized Fed Chair Jerome Powell. Trump’s calls for lower interest rates led to concerns about the U.S. economy’s future. White House economic advisor Kevin Hassett mentioned a team studying Powell’s termination, raising questions about the Fed’s independence and causing the Cboe Volatility Index to rise above 30.

In other news:
– The Justice Department is pushing for Alphabet to sell its Chrome web browser to reduce Google’s search dominance.
– President Trump will meet with Walmart, Target, and Lowe’s to discuss tariffs and their impact on the retail sector.
– Chipotle Mexican Grill stock is under pressure ahead of earnings.
– Netflix stock rose after upbeat earnings and positive analyst notes.
– Amazon.com stock was downgraded due to tariff-related concerns.

Oil prices fell as U.S.-Iran talks took place, with May-dated WTI crude dropping 2.5% to $63.08 per barrel. Meanwhile, gold prices reached a new record high amidst concerns about the central bank’s independence, closing at $3,406.20 an ounce.



Read more at Nasdaq.: Dow Gaps Lower as Powell Draws Trump Ire