L#DinnerWithTrump The markets do not rest even on holidays, especially with Donald Trump in the Oval Office. This Monday, with a large part of the global stock exchanges closed (including the European ones), the main U.S. indices closed with declines close to 2.4% weighed down by the confrontation between Donald Trump and the President of the Federal Reserve, Jerome Powell. The pressure from the White House on the U.S. central bank, which began last week with Trump calling for Powell's dismissal, has been increasing. In a new chapter, the President of the United States has labeled Powell a 'loser' and demanded 'preventive cuts' in interest rates. 'There may be an economic slowdown unless Mr. Too Late, a big loser, lowers rates now,' he wrote.

The reaction in the main indices on Wall Street has been immediate. If the futures market was already pointing to a downward session with declines of 1%, sales accelerated as the session progressed (and institutional tension increased). Finally, the Nasdaq closed down 2.5%, the S&P 500 down 2.36%, and the Dow Jones down 2.48%. This is the largest drop since April 10. The dollar also reacted with declines, hitting three-year lows against the euro (0.88 euros), while long-term Treasury bonds are also under pressure. The yield on the 10-year paper has surged to 4.38%, up from 4% on April 2, the date of the start of the new tariff offensive. In the case of bonds, when the yield rises, it means that the bond's value has fallen because investors demand more yield now than before due to having less confidence in the issuer. The ongoing conflict situation in the United States has led to a massive sell-off of U.S. assets.