{"id":39041,"date":"2025-04-21T18:57:09","date_gmt":"2025-04-21T18:57:09","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/39041\/"},"modified":"2025-04-21T18:57:09","modified_gmt":"2025-04-21T18:57:09","slug":"wall-street-and-the-dollar-tumble-as-investors-retreat-further-from-us","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/39041\/","title":{"rendered":"Wall Street and the dollar tumble as investors retreat further from US"},"content":{"rendered":"

NEW YORK (AP) \u2014 U.S. stocks are tumbling Monday as worries about President Donald Trump\u2019s trade war<\/a> and his criticism of the Federal Reserve cause investors to pull further from the United States.<\/p>\n

The S&P 500 was 3.1% lower in another wipeout, and the index at the center of many 401(k) accounts is more than 16% below its record set two months ago. <\/p>\n

The Dow Jones Industrial Average was down 1,161 points, or 3%, as of 2:34 p.m. Eastern time. Tesla and other Big Tech stocks had some of the sharpest losses, which dragged the Nasdaq composite down a market-leading 3.4%.<\/p>\n

Perhaps more worryingly, the value of the U.S. dollar<\/a> also sank as a retreat continues from U.S. markets. It\u2019s an unusual move because the dollar has historically strengthened during past episodes of nervousness. But this time around, it\u2019s policies directly from Washington that are causing the fear and potentially weakening the dollar\u2019s reputation as a pillar of the global economy.<\/p>\n

Trump continued his tough talk on global trade over the weekend, even as economists and investors continue to say his stiff proposed tariffs could cause a recession<\/a> if they\u2019re not rolled back. U.S. talks last week with Japan have so far failed to reach a deal that could lower tariffs and protect the economy, and they\u2019re seen as a \u201ctest case,\u201d according to Thierry Wizman, a strategist at Macquarie. <\/p>\n

\u201cThe golden rule of negotiating and success: He who has the gold makes the rules,\u201d Trump said in all capitalized letters on his Truth Social Network. He also said that \u201cthe businessmen who criticize tariffs are bad at business, but really bad at politics,\u201d likewise in all caps.<\/p>\n

Trump has recently focused more on China, the world\u2019s second-largest economy, which upped its own rhetoric against the world\u2019s largest economy. China on Monday warned other countries<\/a> against making trade deals with the United States \u201cat the expense of China\u2019s interest\u201d as Japan, South Korea and others try to negotiate agreements. <\/p>\n

\u201cIf this happens, China will never accept it and will resolutely take countermeasures in a reciprocal manner,\u201d China\u2019s Commerce Ministry said in a statement.<\/p>\n

Also hanging over the market are worries about Trump\u2019s anger at Federal Reserve Chair Jerome Powell<\/a>. Trump last week criticized Powell again<\/a> for not cutting interest rates sooner to help give the economy more juice.<\/p>\n

The Fed has been resistant to lowering rates too quickly<\/a> because it does not want to allow inflation<\/a> to reaccelerate after it has slowed nearly all the way down to its 2% goal from more than 9% three years ago.<\/p>\n

Trump talked again on Monday<\/a> about a slowing for the U.S. economy that could be coming unless \u201cMr. Too Late, a major loser, lowers interest rates.\u201d<\/p>\n

A move to fire Powell would likely send a huge bolt of fear through financial markets. While investors always love lower interest rates, because they boost prices for stocks and other investments, the larger worry would be that a less independent Fed would be less effective at keeping inflation under control in the long run. Such a move could further weaken, if not kill, the United States\u2019 reputation as the world\u2019s safest place to keep cash. <\/p>\n

On Wall Street, several Big Tech stocks helped lead indexes lower ahead of their latest earnings reports<\/a> due later this week.<\/p>\n

Tesla sank 6.9%, for example. The electric vehicle\u2019s stock came into Monday roughly 50% below its record set in December on criticism that its stock price had gone too high and that its brand has become too entwined<\/a> with Elon Musk, who\u2019s leading the U.S. government\u2019s efforts to cut spending<\/a>. <\/p>\n

Nvidia<\/a> fell 5.7% and was on track for a third straight drop after disclosing that new U.S. export limits on chips to China could hurt its first-quarter results by $5.5 billion. It was the single heaviest weight on the S&P 500. A 3% drop for Apple, 2.8% fall for Microsoft and 3.9% slide for Amazon were close behind. <\/p>\n

It was another wipeout on Wall Street, and 97% of the stocks within the S&P 500 were falling. <\/p>\n

Among the few gainers was Discover Financial Services, which climbed after the U.S. government approved its proposed merger with Capital One Financial<\/a>. <\/p>\n

Discover rose 3.4%, while Capital One rose 1.2%. <\/p>\n

Gold was also rising, burnishing its reputation as a safe-haven investment, unlike some others. <\/p>\n

In the bond market, shorter-term Treasury yields fell as investors keep alive hopes that the Fed may cut its main overnight interest rate later this year in order to support the economy. <\/p>\n

Longer-term yields swiveled up and down, though, as doubts continue to rise about the United States\u2019 standing<\/a> in the global economy because of Trump\u2019s moves.<\/p>\n

The yield on the 10-year Treasury reached 4.39%. That\u2019s up from 4.34% at the end of last week and from just about 4% earlier this month. That\u2019s a substantial move for the bond market.<\/p>\n

The U.S. dollar\u2019s value, meanwhile, fell against the euro, Japanese yen, the Swiss franc and other currencies.<\/p>\n

In stock markets abroad, Tokyo\u2019s Nikkei 225 fell 1.3%. Indexes fared better in Seoul, where stocks rose 0.2%, and in Shanghai, which saw a 0.4% gain.<\/p>\n

___<\/p>\n

AP Business Writer Elaine Kurtenbach contributed. <\/p>\n","protected":false},"excerpt":{"rendered":"NEW YORK (AP) \u2014 U.S. stocks are tumbling Monday as worries about President Donald Trump\u2019s trade war and…\n","protected":false},"author":2,"featured_media":39042,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5311],"tags":[4177,12019,1662,51,20947,1395,20950,12261,32,1830,1700,295,20091,3663,22057,4179,4178,3058,17178,15253,8572,22058,5214,298,22229,22230,49,7150,5213,978,659,10673,263],"class_list":{"0":"post-39041","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-united-states","8":"tag-amazon-com","9":"tag-ap-top-news","10":"tag-apple","11":"tag-business","12":"tag-capital-one-financial-corp","13":"tag-china","14":"tag-discover-financial-services","15":"tag-district-of-columbia","16":"tag-donald-trump","17":"tag-earnings","18":"tag-economy","19":"tag-elon-musk","20":"tag-federal-reserve-system","21":"tag-financial-markets","22":"tag-financial-performance","23":"tag-general-news","24":"tag-inc","25":"tag-international-trade","26":"tag-jerome-powell","27":"tag-microsoft-corp","28":"tag-nvidia-corp","29":"tag-stocks-and-bonds","30":"tag-tariffs-and-global-trade","31":"tag-tesla","32":"tag-thierry-wizman","33":"tag-trump-media-technology-group","34":"tag-united-states","35":"tag-united-states-congress","36":"tag-united-states-government","37":"tag-us","38":"tag-usa","39":"tag-washington-news","40":"tag-world-news"},"share_on_mastodon":{"url":"","error":"Validation failed: Text character limit of 500 exceeded"},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/39041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=39041"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/39041\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/39042"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=39041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=39041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=39041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}