Dow drops 1,000 points as Trump renews criticism of Federal Reserve Chair Jerome Powell
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Stocks fell sharply on Monday as Wall Street returned from a shortened trading week and President Trump renewed his criticism of Federal Reserve Chair Jerome Powell, branding him as a "major loser."
The S&P 500 fell 152 points, or 2.9%, to 5,130 in early trading, while the Dow Jones Industrial Average tumbled 1,071 points, or 2.7%. The tech-heavy Nasdaq Composite sank even more sharply, dropping 3.2%.
Stocks were down as investors grapple with ongoing tariff uncertainty and await the release of U.S. tech companies earnings this week.
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Companies in the U.S. that paid tariffs invalidated by the Supreme Court in February are legally entitled to refunds, a federal judge ruled on Wednesday. In:
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Defense Secretary Pete Hegseth deemed artificial intelligence firm Anthropic a "supply chain risk to national security" on Friday, following days of increasingly heated public conflict over the company's effort to place guardrails on the Pentagon's use of its technology. Jo Ling Kent contributed to this report. In: