US Stock Market LIVE: Dow Jones tanks more than 1,000 points as sell-off intensifies over Trump-Powell tensions

US Stock Market LIVE: US stocks selloff deepened Monday (April 21) after President Donald Trump stepped up his haranguing of Jerome Powell on social media. The president’s threats to remove the Federal Reserve chair have also been weighing on longer-dated Treasuries and the dollar.

US Stock Market LIVE: US stocks selloff deepened Monday (April 21) after President Donald Trump stepped up his haranguing of Jerome Powell on social media. The president’s threats to remove the Federal Reserve chair have also been weighing on longer-dated Treasuries and the dollar. The S&P 500 sank 1.9% and the dollar index weakened to a 15-month low as Wall Street reopened after the long holiday weekend. Long bonds fell, pushing the 10-year yield close to 4.4%. While investors turned away from American securities, haven assets climbed. Gold jumped to another record, above $3,400 an ounce, while the Swiss franc led a rally in other Group-of-10 currencies. The US president took to Truth Social, escalating his attack on the Fed chair, insisting there was “virtually” no inflation and it was time for “preemptive cuts.” The last reading of the Fed’s preferred inflation gauge remains above the central bank’s target, the next readout comes next week.