Stock prices and the dollar have fallen sharply again on US stock exchanges. Analysts and the media are linking this to President Donald Trump’s latest tweet to Federal Reserve Chairman Jerome Powell, in which Trump called him a “total failure.”
Trump has harshly urged Powell on social media to cut Federal Reserve interest rates “preemptively” to make loans more affordable. According to him, this step could stimulate economic growth. “The economy is in danger of slowing down if ‘Mr. Left,’ who is too late to act, does not immediately lower interest rates,” Trump wrote, reiterating his call, which he has already made several times.
In the United States, the Federal Reserve acts as the central bank.
Trump’s tariff decisions have already caused the stock markets to tumble, and his disagreements with Powell are adding to the uncertainty and tension in the market.
The S&P 500 index, which tracks the stock prices of the 500 largest US companies, fell about 2.4% on Monday. It has lost about 12% since the beginning of the year.
The Dow Jones index fell 2.5% on the same day and about 10% since the beginning of the year.
The Nasdaq index, including US high-tech company shares, fell more than 2.5% on Monday. Since the beginning of the year, these companies have lost an average of about 18% of their value.
