U.S. equities extended their losses on Monday, with the Dow plunging nearly 1,000 points, after President Trump renewed his assault on Fed Chair Jerome Powell’s independence. Trade developments offered little respite, leaving investors bracing for key economic releases this week.
Market Recap
Dow Jones Industrial Average: –971.82 points (–2.48%) to 38,170.41
S&P 500: –2.36% to 5,158.20
Nasdaq Composite: –2.55% to 15,870.90
Fed Independence Under Fire
“Mr. Too Late”: On Truth Social, Trump warned that growth could falter unless Powell slashes rates immediately, labeling him “a major loser.”
Termination Talk: Last week’s suggestion that Powell could be fired is still “being examined,” per Kevin Hassett, stoking policy uncertainty.
Market Impact: Repeated attacks on Fed autonomy have driven bond yields higher and equity risk premiums wider.
Trade Developments Fail to Calm Markets
90-Day Tariff Pause: Exemptions for some trading partners have yet to translate into visible relief for exporters.
Global PMI Preview: Flash April PMIs will be scrutinized for the first hard data on how tariff shifts are affecting business activity.
Key Reads This Week
Flash PMIs (Wed)
Early indicators of manufacturing vs. services momentum amid trade policy changes.
Fed Commentary
Speeches from regional presidents and Fed minutes will signal whether inflation or growth worries prevail.
Durable Goods Orders (Thu)
Insight into whether U.S. businesses front-loaded capital spending ahead of tariff impositions.
Track Upcoming Economic Releases
Stay ahead of the market’s next catalysts—PMIs, durable goods, and Fed events—using the? Economics Calendar – Economics Data API from Financial Modeling Prep.This API provides real-time scheduling and historical context for the week’s most market-moving indicators.
