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U.S. President Donald Trump speaks to the media all through the yearly White House Easter Egg Roll, at the South Lawn of the White House in Washington, D.C., U.S., April 21, 2025.
Leah Millis | Reuters
Yesterday’s version of this text cautioned that U.S. President Donald Trump’s want to intrude within the Federal Reserve, as he expressed to journalists on Friday, may just lead to upheaval within the markets. That did not occur as a result of markets have been closed for the Good Friday vacation.
On Monday, buying and selling resumed. So have Trump’s assaults at the central financial institution — and, extra pointedly, on Fed Chair Powell, describing him as “Mr. Too Late” and “a major loser” for no longer slicing rates of interest. Trump appointed Powell to the Federal Reserve’s absolute best seat in his first presidential time period all through 2017.
With no marketplace closure to defend stocks from Trump’s threats, traders unloaded their shares. All main U.S. indexes fell, weighed down via steep declines within the “Magnificent Seven” team of stocks. The U.S. greenback weakened to a three-year low whilst gold costs hit a brand new top, suggesting, together, that international traders are dropping self belief within the U.S. economic system and reallocating their capital to more secure belongings protected from Trump.
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Trump escalates assaults on Powell
U.S. President Donald Trump on Monday renewed and escalated his assaults on Federal Reserve Chair Jerome Powell. ″’Preemptive Cuts’ in Interest Rates are being referred to as for via many,” Trump stated on Truth Social. “There generally is a SLOWING of the economic system until Mr. Too Late, a big loser, lowers rates of interest, NOW,” Trump wrote, relating to Powell. On Friday, Trump additionally referred to as for Powell to chop charges.
Stocks and U.S. greenback fall as gold hits top
Stocks within the U.S. fell Monday on Trump’s feedback. The S&P 500 misplaced 2.36%, the Dow Jones Industrial Average tumbled 2.48% and the Nasdaq Composite was down 2.55%. The ICE U.S. Dollar Index, which measures the greenback against a basket of foreign currencies, fell as low as 97.92 on Monday, the lowest degree since March 2022, consistent with FactSet. Gold costs jumped to $3,452.30 per ounce, a fresh record.
Shares of Tesla drop before earnings
Tesla shares fell almost 6% on Monday, a day ahead of its first-quarter earnings report. The stock is now down 44% for the 12 months after wrapping up their worst quarter since 2022 in March. In the online forum that Tesla solicits investor inquiries before its earnings calls, one investor, referring to CEO Elon Musk, asked, “What steps has the board of administrators taken to mitigate the emblem harm led to via Elon’s political actions?”
Amazon pausing information heart discussions: Wells Fargo
Amazon has behind schedule some commitments round new information heart rentals, Wells Fargo analysts stated Monday, “Over the weekend, we heard from a number of trade assets that AWS has paused a portion of its leasing discussions at the colocation aspect (in particular world ones),” Wells Fargo analysts wrote in a note. However, holding off from deals does not mean the tech giant is cancelling agreements.
[PRO] Markets could have ‘severe’ reaction to Trump
Stocks and bonds would likely have a “severe response” and sell off sharply if Trump makes a move to get rid of Federal Reserve Chair Jerome Powell, Evercore ISI’s vice chairman, Krishna Guha, told CNBC’s “Squawk Box” Monday. While Powell has said he doesn’t believe the president can legally remove the Fed Chair, Guha highlighted one way that Trump can pressure Powell without firing him.
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Pope Francis greets people as he attends the weekly general audience in St. Peter’s square at the Vatican, March 8, 2023.
Guglielmo Mangiapane | Reuters
‘A man of the people’: World leaders react to the death of Pope Francis
Tributes and condolences poured in from around the world following news of the death of Pope Francis, who died on Monday at the age of 88.
He made waves during his papacy as a reformer who often rattled the church’s most conservative quarters, but found popularity among progressives who embraced his championing of social justice and support for marginalized groups.
Francis’ last official meeting was with U.S. Vice President JD Vance on Easter Sunday, just one day before his passing.
In a post on X, Vance wrote: “I simply discovered of the passing of Pope Francis. My middle is going out to the tens of millions of Christians all over the place the arena who liked him. I used to be glad to peer him the day before today, despite the fact that he used to be clearly very sick.”
