Stocks and dollar slide as Trump's Fed attacks jangle nerves

Ankur Banerjee - Reuters - 21/04
Asian equities and U.S. stock futures slid on Monday while the dollar slumped, as anxiety over tariffs and public criticism of the Federal Reserve by President Donald Trump hit sentiment, leading gold prices to a new high.
  • Investors worry about the Fed's independence under Trump
  • Tariff threat and fears about Fed dent risk appetite
  • Investors dump U.S. assets
  • Gold notches yet another record high
SINGAPORE, April 21 (Reuters) - Asian equities and U.S. stock futures slid on Monday while the dollar slumped, as anxiety over tariffs and public criticism of the Federal Reserve by President Donald Trump hit sentiment, leading gold prices to a new high.
Trump launched a series of attacks against Fed Chair Jerome Powell on Thursday, with his team evaluating whether they could fire Powell, a move that has great consequence for the central bank's independence and for global markets.

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Most markets were closed on Friday and some remain on holiday for Easter Monday.
S&P 500 futures fell 0.64% and Nasdaq futures eased 0.53%. In Asia, Japan's Nikkei (.N225), opens new tab fell 1% while South Korea's benchmark index (.KS11), opens new tab was steady.
"Markets are already on edge due to escalating geopolitical tensions, and now concerns are rising that Trump's potential interference with the Fed could add another layer of uncertainty," said Charu Chanana, chief investment strategist at Saxo in Singapore.
"Any signs of political pressure on monetary policy could undermine the Fed’s independence and complicate the path ah...
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