US shares and dollar slide after Trump attacks chair chairman Powell

US shares and the dollars fell again when President Donald Trump intensified his attacks on the American central bank boss and called him “a big loser” for not reducing interest rates.

In a post on social media, Trump called on the Federal Reserve chairman Jerome Powell to “reduce the interest rates” to help stimulate the economy, and said that Powell had consistently been too slow to respond to economic developments.

“There may be a delay in the economy, unless Mr Tooo Late, a great loser, now lowers the interest rates,” he wrote.

Trump’s criticism of Powell’s handling of the US economy is because his own plans for rates have caused a sale of the stock market and led the fear of economic recession.

The intensifying collision of the president with Powell, which he called to lead the Fed during his first term, has added the unrest on the market.

The S&P 500, which follows 500 of the largest American companies, fell around 2.4%on Monday. It has lost around 12% of its value since the beginning of the year.

The industrial average of Dow Jones fell by 2.5% and has fallen by around 10% this year, while the Nasdaq has fallen by more than 2.5% and has fallen around 18% since January.

Although the dollar and US government bonds are usually considered safe assets in times of unrest on the market, they have not escaped the recent turbulence.

The dollar index – which measures the strength of the dollar against a series of currencies, including the euro – fell to the lowest level since 2022 on Monday.

The interest rates on US government debt also rose, because investors demanded a higher return for keeping treasury.

In the meantime, the gold price hit a new record high while investors are looking for so -called “Safe -Haven” assets.

Spot Gold crossed the $ 3,400 (£ 2,563) per ounce for the first time on Monday.

The precious metal is seen as a safer place to place money in times of economic uncertainty.

Trump’s criticism of Powell dates from his first term of office, when he reportedly also discussed him fired. Since he won the elections, he has encouraged Powell to lower loan costs.

The last criticism follows Powell’s warnings that Trump’s import tax would probably increase prices and slow down the economy.

Trump Last week mentioned publicly to dismiss PowellWriting on social media on Thursday: “The termination of Powell cannot come fast enough.”

Such a step would be controversial – and legally questionable – a tradition of independence from the bank.

Powell Last year reporters told He did not believe that the president had the legal authority to remove him.

But one of Trump’s best economic advisers confirmed that officials studied the option on Friday, when the stock market in the US was closed for trade.