UBS Global Wealth Management Portfolio manager Angie Pneummon discussed the market response amid trade tension and advised customers and investors.
Stock collapsed on Monday as investors saw for signs of progress on business talks, and after the President Donald Trump Criticism of Federal Reserve President Jerome Powell continues.
Dow Jones Industrial Average dropped 971.82 points or 2.48%, while S&P 500 and Nasdaq Composite were below 2.36%and 2.55%respectively.
Trump, in Post social on truth, Powell attacked and claimed that energy costs and food prices are “quite low” and that “virtually there is no inflation.”
Trump said, “trending so well with these costs, just the prediction I made can be almost no inflation, but the slow pace of the economy can slow down until Sri Sri too late, a major losers, reducing interest rates,” Trump said.
Last week, a true social post stated that the President’s comments are “always too late and wrong”, and that, “Pavel ending Can not come very fast. ,
President Donald Trump (L) attacked Federal Reserve President Jerome Powell on Truth Social on Monday. (Through Saul Loaib / AFP Getty Image / Getty Image)
Shares of “Fantastic Seven” also did less business, Tesla Falling More than 5% and NVidia below 4%.
Continuous attacks on Powell increased the concerns about Fed’s freedom in setting up a monetary policy path in the world’s largest economy, already reduced the investor trust in American assets with Trump’s comprehensive trade tariff.
| Langer | Security | Last | Change | Change % |
|---|---|---|---|---|
| Me: DJI | Dow jones average | 38170.41 | -971.82 |
-2.48% |
| SP500 | S&P 500 | 5158.2 | -124.50 |
-2.36% |
| I: Comp | Nasdac overall index | 15870.900501 | -415.55 |
-2.55% |
| TSLA | Tesla Inc. | 227.50 | -13.87 |
-5.75% |
| NVDA | Nvidia Corp. | 96.91 | -4.58 |
-4.51% |
These are American industries that can be placed on the wall by tariffs on China
Federal Reserve Bank of Chicago President Auston Gulasbi said in a presence on CBS on Sunday, “” “” “” “”Facing the nation with Margaret Brainon“Independence of central banks and monetary policy is important.
“There is almost a monopoly among economists that political intervention is able to do monetary freedom, that Fed or any central bank is able to do the work he needs, really important,” Gulsbi said.
“I strongly hope that we do not take ourselves to an environment where monetary freedom is questioned, because he – which will reduce the credibility of the fed,” he said.
Tariff concerns continued to bother investors after China’s warning against striking deals with the US at the expense of Beijing. Fed policy makers also flagged a cloud interest-rate approach due to tariff uncertainty.
President Donald Trump, left, and Chinese President Xi Jinping. (Getty Image / Getty Image)
According to data compiled by LSEG, traders are now being priced in about 90 base points of reducing the fed this year.
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There is uncertainty on trade and monetary policy Stock with hard work this year, With S&P 500 your February records below 15% below high.
Fox Business’ Eric Revell and Reuters contributed to this report
