Agencies – Details Press
US stock market indices fell against the backdrop of US President Donald Trump’s calls for the Federal Reserve to cut interest rates and his threats to remove Jerome Powell from the Fed’s chairmanship.
Bloomberg reported on Monday that the S&P 500 index fell 2.4% on the New York Stock Exchange, while the Nasdaq 100 fell 2.5%.
The agency also pointed to a decline in the US dollar exchange rate and a rise in gold prices.
This comes against the backdrop of attacks US President Donald Trump criticized Federal Reserve Chairman Jerome Powell, whom Trump had demanded lower interest rates and had spoken of his desire to remove from office.
Powell refused to resign, stating that Trump lacked the legal authority to remove him.
It is worth noting that the Federal Reserve is considered an independent body from the US government.
