Stocks and dollar fall as Trump's Fed attacks jangle nerves | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Tuesday
June 10, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
TUESDAY, JUNE 10, 2025
Stocks and dollar fall as Trump's Fed attacks jangle nerves

Global Economy

Reuters
21 April, 2025, 12:15 pm
Last modified: 21 April, 2025, 12:18 pm

Related News

  • Shares up slightly, dollar struggles as investors consider tariff truce
  • Global stocks, dollar surge as US, China agree 90-day tariff relief
  • Fed sees rising risks to economy as it leaves rates unchanged
  • World breathes sigh of relief as Trump spares Fed, IMF
  • Trump says he has no plans to fire Fed's Powell; market jumps

Stocks and dollar fall as Trump's Fed attacks jangle nerves

Trump launched a series of attacks against Fed Chair Jerome Powell on Thursday, with his team evaluating whether they could fire Powell, a move that has great consequence for the central bank's independence and for global markets

Reuters
21 April, 2025, 12:15 pm
Last modified: 21 April, 2025, 12:18 pm
A man walks past an electronic screen displaying stock quotation board in Tokyo, Japan April 15, 2025. Photo: REUTERS/Issei Kato/File photo
A man walks past an electronic screen displaying stock quotation board in Tokyo, Japan April 15, 2025. Photo: REUTERS/Issei Kato/File photo

Highlights:

  • Investors worry about the Fed's independence under Trump
  • Tariff threat and fears about Fed dent risk appetite
  • US assets dumped
  • Gold notches another record high

Asian equities and US stock futures slid on Monday as anxiety over tariffs and public criticism of the Federal Reserve by President Donald Trump hit sentiment, pushing the dollar down sharply and catapulting safe-haven gold to a record high.

Trump launched a series of attacks against Fed Chair Jerome Powell on Thursday, with his team evaluating whether they could fire Powell, a move that has great consequence for the central bank's independence and for global markets.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

Most markets were closed on Friday and some, including most of Europe, remain on holiday for Easter Monday.

S&P 500 futures fell 0.64% and Nasdaq futures eased 0.53%. In Asia, Japan's Nikkei fell more than 1% while South Korea's benchmark index was steady. Taiwan stocks slipped 1% but China stocks inched higher on Monday.

"Markets are already on edge due to escalating geopolitical tensions, and now concerns are rising that Trump's potential interference with the Fed could add another layer of uncertainty," said Charu Chanana, chief investment strategist at Saxo in Singapore.

"Any signs of political pressure on monetary policy could undermine the Fed's independence and complicate the path ahead for interest rates just as investors are looking for stability amid global volatility."

Trump's tariffs have roiled financial markets and triggered a selloff in Treasuries and the dollar in April that cast fresh doubt on the long-held belief in the safe-haven status of US assets.

The drop in confidence in US assets has been exacerbated by Trump's attacks on the Fed, with the dollar crumbling against most other currencies. The euro touched a three-year high on Monday, while the yen was at a seven-month peak.

The Swiss franc strengthened to its highest against the dollar in over 10 years. Emerging market currencies also nudged higher as dollar selling intensified through Monday.

Chicago Federal Reserve President Austan Goolsbee said on Sunday that he hopes the United States is not moving to an environment where the ability of the central bank to set monetary policy independent of political pressure is questioned.

The yield on the benchmark US 10-year Treasury note rose 1.7 basis points to 4.344% in Asian hours.

US EARNINGS IN FOCUS

With the US earnings season kicking off, investor focus this week will be on results from tech bellwether Alphabet, chipmaker Intel and EV maker Tesla.

All the 'Magnificent Seven' megacap stocks are sharply lower in 2025, with Alphabet down about 20% and Tesla off 40%.

Companies and investors are grappling with a tariff landscape poised to keep shifting as the Trump administration negotiates with countries.

While Trump has paused some of the heftiest levies on imports, the US is also locked in a trade battle with China, the world's second-largest economy.

Trump said on Friday the US is having good conversations privately with China amid the two countries' trade war. But China's ambassador to the United States has said the US should show respect before any talks can take place.

In commodities, gold prices rose more than 1% to touch a record high of $3,370.17 per ounce, taking its gains so far this year to 26%. The metal has been consistently hitting record highs this year, buoyed by safe-haven flows.

Oil prices fell 1.80% on Monday after nuclear talks between the United States and Iran showed progress, easing concerns that the dispute will reduce supply from the major Middle Eastern producer.

Brent crude futures fell 1.75% to $66.77 a barrel. US West Texas Intermediate crude was at $63.55 per barrel, also down 1.75%.

Top News / World+Biz / USA

Global stock / Global stocks / US Federal Reserve / Jerome Powell

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • BNP Secretary General Mirza Fakhrul Islam Alamgir speaks to reporters at the BNP Chairperson’s Gulshan office on 10 June 2025. Photo: Focus Bangla
    Fakhrul urges interim govt to rethink April election timing
  • A passerby walks near a building on fire at the site of a Russian drone strike, amid Russia's attack on Ukraine, in Kyiv, Ukraine June 10, 2025. REUTERS/Thomas Peter
    Russia launches one of war's largest air attacks on Kyiv
  • Mahmud Hasan Khan Babu. Photo: Collected
    Elected govt essential to ensure investors' security: BGMEA president

MOST VIEWED

  • On left, Abdullah Hil Rakib, former senior vice president (SVP) of BGMEA and additional managing director of Team Group; on right, Captain Md Saifuzzaman (Guddu), a Boeing 787 Dreamliner pilot for Biman Bangladesh Airlines. Photos: Collected
    Ex-BGMEA SVP Abdullah Hil Rakib, Biman 787 pilot Saifuzzaman drown in boating accident in Canada
  • A photo showing the former president on his return to Dhaka today (9 June). 
Source: Collected
    Former president Abdul Hamid returns to Bangladesh from Thailand
  • File photo of Eid holidaymakers returning to the capital from their country homes/Rajib Dhar
    Dhaka: The city we never want to return to, but always do
  • Chief Adviser Muhammad Yunus leaves for a four-day visit to the United Kingdom from the Dhaka airport on 9 June 2025. Photo: CA Press Wing
    CA Yunus leaves for UK; discussion expected on renewable energy investment, laundered money
  • Inside the aid ship stormed by Israeli forces on 9 June 2025. Photo: BBC
    Israeli forces stormed aid boat carrying Greta Thunberg bound for Gaza: Freedom Flotilla Coalition
  • Enhanced surveillance at Ctg airport amid rising global Covid-19 cases
    Enhanced surveillance at Ctg airport amid rising global Covid-19 cases

Related News

  • Shares up slightly, dollar struggles as investors consider tariff truce
  • Global stocks, dollar surge as US, China agree 90-day tariff relief
  • Fed sees rising risks to economy as it leaves rates unchanged
  • World breathes sigh of relief as Trump spares Fed, IMF
  • Trump says he has no plans to fire Fed's Powell; market jumps

Features

File photo of Eid holidaymakers returning to the capital from their country homes/Rajib Dhar

Dhaka: The city we never want to return to, but always do

1d | Features
Photo collage shows political posters in Bagerhat. Photos: Jannatul Naym Pieal

From Sheikh Dynasty to sibling rivalry: Bagerhat signals a turning tide in local politics

3d | Bangladesh
Illustration: TBS

Unbearable weight of the white coat: The mental health crisis in our medical colleges

5d | Panorama
(From left) Sadia Haque, Sylvana Quader Sinha and Tasfia Tasbin. Sketch: TBS

Meet the women driving Bangladesh’s startup revolution

6d | Panorama

More Videos from TBS

BNP is not a revolutionary party: Mirza Fakhrul

BNP is not a revolutionary party: Mirza Fakhrul

22m | TBS Today
Trump sends 2,000 more National Guard and 700 Marines to Los Angeles

Trump sends 2,000 more National Guard and 700 Marines to Los Angeles

57m | TBS World
Prison irregularities will be punished, warns Home Affairs Advisor

Prison irregularities will be punished, warns Home Affairs Advisor

57m | TBS Today
What's the problem with elections in April? What BNP says

What's the problem with elections in April? What BNP says

2h | TBS Today
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net