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‘One-man game of chicken’: Wallace on market instability as Trump ramps up attacks on Fed Chair
Posted
April 21, 2025
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April 21, 2025
295,521
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1:46Now PlayingU.S. stocks tumbled and bonds sold off after President Trump lobbed new insults at Fed Chair Jerome Powell, pressuring him to cut interest rates while markets are already contending with shocks from his tariff policy.
The S&P closed down 2.4%, the Nasdaq fell more than 2.5% and the Dow Jones lost 2.5%. All three indexes are down more than 9% since Trump's April 2 "Liberation Day" tariffs announcement.
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