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Market Turmoil as Trump-Fed Feud Intensifies Amid Tech Selloff
Market Turmoil as Trump-Fed Feud Intensifies Amid Tech Selloff
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BTCCSquare news:
Dow futures plunged as former President Donald TRUMP escalated his criticism of Federal Reserve Chair Jerome Powell, demanding rate cuts and the resignation of Governor Lisa Cook. The political spat casts doubt on central bank independence ahead of Powell's pivotal Jackson Hole speech.
Tech stocks extended losses, with the 'Magnificent Seven' — Amazon, Apple, and Nvidia among them — sliding for a second consecutive session. The retreat questions whether AI-driven valuations have peaked after propelling markets this year.
Investors await Powell's remarks for clarity on September's policy direction, while Trump's potential intervention in semiconductor firm Intel adds another LAYER of market uncertainty.
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