Dollar Dives Amid Trump-Fed Tensions

The U.S. dollar hit a three-year low as President Trump's criticism of Federal Reserve Chair Jerome Powell intensified, raising concerns over the central bank's independence. The market reacted with steep stock declines in the Nasdaq and a drop in investor confidence due to fears of impacted monetary policies.

The U.S. dollar plunged to its lowest point in three years on Monday, driven by growing investor unease over President Trump's ongoing criticism of Federal Reserve Chairman Jerome Powell. Trump's attacks threatened the Fed's independence, particularly as he demanded lower interest rates.

The dollar reached a decade-low against the Swiss franc and weakened significantly against the euro. Adding to the financial market turbulence, Trump hinted at possibly firing Powell, further shaking investor confidence.

Global markets responded with steep losses, notably in the tech-heavy Nasdaq, following Trump's social media discussions about Powell. The broader economic landscape continues to feel the strain from uncertainties surrounding U.S. trade policies.

(With inputs from agencies.)