Market Mayhem: Trump’s Fed Criticism Tanks Tech Stocks

U.S. stocks plunged on Monday after Trump's critique of Fed Chair Powell, igniting market fears over Federal Reserve independence amidst trade tensions with China. Major indexes, especially the Nasdaq, suffered significant losses. Upcoming earnings reports are set to gain attention amid the economic turmoil.

U.S. stock markets experienced significant declines on Monday, as President Donald Trump intensified his criticism of Federal Reserve Chair Jerome Powell. This development has sparked concerns over the autonomy of the central bank, contributing to investor anxiety amid the ongoing trade conflict with China.

The Dow Jones Industrial Average plummeted 965.52 points, while the technology-heavy Nasdaq Composite also recorded heavy losses. Economic uncertainties remain high, particularly as key companies prepare to release their earnings reports this week, with analysts adjusting growth expectations.

Adding to the market volatility, AI giant Nvidia saw declines following reports that Huawei Technologies plans to ship an advanced AI chip in China. Meanwhile, the trade rift between the U.S. and China continues to complicate global economic prospects.

(With inputs from agencies.)