Stocks plummet over Fed independence concerns, dollar weakens, gold soars; negative.

From Nasdaq: 2025-04-21 13:05:00

Stock indexes are sharply down today, with the S&P 500, Dow Jones, and Nasdaq all falling over 2%. Federal Reserve independence concerns arise as President Trump considers firing Fed Chair Powell. Dollar hits 3-year low, gold reaches record high amid fears of dollar weakness and potential foreign investor sell-offs.

Bitcoin surges over 4% as dollar hits 3-year low. Market focuses on Q1 earnings results and US trade policies. Tariff tensions continue with exemptions and delays. Stock market movers include Tesla, Nvidia, Amazon, and Meta Platforms among the top losers. Earnings growth expectations for S&P 500 stocks revised downward.

Overseas markets mixed, with China and Japan showing varied performances. Recent tariffs impact global trade relations, with US imposing tariffs on various nations. China retaliates with increased tariffs on US goods. Interest rates under pressure as Trump’s actions on Fed Chair Powell raise concerns.

European bonds closed for Easter holiday. ECB warns of potential inflation from trade tariffs and German spending. Markets anticipate rate cut by ECB in June. US stock movers include chip stocks and energy producers falling, while gold-mining stocks rise. Salesforce downgraded, Fidelity National Information upgraded.

Stocks like DR Horton, Fidelity National Information, Discover Financial Services, and Netflix see notable movements. Earnings reports scheduled for various companies on 4/21. Author Rich Asplund does not hold positions in securities mentioned. Information provided for informational purposes only.



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