Trump's Criticism of Fed Sparks Market Volatility

The US stock market faced significant turmoil as President Donald Trump's criticism of Federal Reserve Chair Jerome Powell intensified. Trump's remarks raised concerns about the independence of the Federal Reserve, leading to a swift decline in major indices such as the Dow Jones, Nasdaq, and S&P 500. The uncertainty was further exacerbated by ongoing trade tensions with China, contributing to the plummeting value of the US dollar and stocks.

Investors are worried about the potential impact of Trump's demand for immediate interest rate cuts and the implications of his trade policies. The technology sector, in particular, suffered substantial losses, with companies like Nvidia and Tesla experiencing sharp declines.

Concerns over the Fed's autonomy and the broader economic implications of trade tensions have driven investors towards safe-haven assets such as gold and cryptocurrencies, both of which saw a rise in value. As the global markets react to these developments, the future of US financial stability remains uncertain amid mounting fears of a recession.