MARKET UPDATE:

It doesn’t hurt to know!

Dow tumbles 1,000 points as Trump’s Powell attacks add to investors’ concerns*

£>Stocks fell again on Monday as President Donald Trump ramped up his attacks on Federal Reserve Chair Jerome Powell, raising questions about the central bank’s independence, while traders received little signs of progress on global trade talks.

£>The Dow Jones Industrial Average traded 1,051.53 points lower, or 2.7%. The S&P 500 shed 2.8%, and the Nasdaq Composite lost 3.1%.

£>The “Magnificent Seven” tech titans traded lower, with Tesla and Nvidia respectively losing 7% and 5%. Amazon shed 4%, while Advanced Micro Devices and Meta Platforms slipped 3%. Equipment manufacturer Caterpillar also declined 3%.

£>In a Truth Social post, Trump claimed that the economy would slow unless Powell — who he referred to as “Mr. Too Late, a major loser” — lowered interest rates immediately. This follows another post last week in which Trump also called for the Fed to lower rates, even hinting at Powell’s “termination"