Stocks drop sharply on Trump's tariff threats and Fed criticism, tech stocks hit hard.

From Yahoo Finance: 2025-04-21 09:30:00

US stocks fell sharply Monday as investors braced for Trump’s tariff policies and Big Tech earnings. The S&P 500 was down over 1%, Nasdaq sank 1.4%, and Dow Jones dropped 1%. Investors fear Trump’s threats to remove Fed Chair Powell, adding to market volatility. The “sell-America” trade gained momentum, with the dollar at its lowest since 2022.

Tech stocks led the market lower on concerns over Trump’s tariffs and Fed criticism. The “Magnificent Seven” tech stocks were all down. Nvidia stock fell 3%, Tesla dropped 4%, and China seeks alternatives amid US curbs. Bitcoin surged as gold reached record highs. Investors worry about recession and impact of tariffs on the economy.

Discover and Capital One stocks surged after merger approvals. Discover gained over 7%, Capital One climbed 4%, with combined assets estimated at $637.8 billion. US stock futures fell over 400 points, led by tech stocks. The market may not have priced in a recession, with Netflix shares up 3% on positive revenue forecasts amid tariff fears. Gold hit records as the dollar weakened.



Read more at Yahoo Finance: Dow, S&P 500, Nasdaq sink with Trump’s tariffs, Fed bashing in focus