Stocks fall on trade uncertainty, Federal Reserve concerns

Stocks fell after the president as investors saw signs of progress in trade talks Donald Trump He continued to criticize Federal Reserve Chairman Jerome Powell.

The Dow Jones industrial average was over 1,000 points, or above 2.8%, while the S&P 500 and Nasdaq composites fell by 2.9% and 3.2%, respectively.

Trump, Post on True Social, He attacked Powell, claiming that energy costs and food prices were “significantly low” and that there was “virtually no inflation.”

“These costs are flowing so well, so there’s little inflation just what I predicted they’d do, but now there’s a slowdown in the economy as long as it’s not too slow to lower interest rates,” Trump said.

The president’s comments come after Powell said in a true social post last week that he was “always too late and wrong.”Powell’s end You can’t come quickly enough. ”

President Donald Trump (L) attacked Federal Reserve Chairman Jerome Powell on Monday in a post on True Society. (Saul Loeb/AFP via Getty Images/Getty Images)

Energy stocks were the worst hit on Monday, down 2.3%, with the decline in megacups and growth stocks weighing in the information technology and consumer discretion department.

The shares of “Magnificent Seven” also traded low Tesla falls 7% and Nvidia are down more than 5% in afternoon trading.

The ongoing attack on Powell has heightened concerns about the Fed’s independence in setting a financial policy path for the world’s largest economy, and has hit investors’ trust in US assets.

These are US industries that may be surrounded by Chinese tariffs

Austan Ghoolsby, president of the Federal Reserve Bank of Chicago, said he made an appearance on CBS on Sunday.Face Margaret Brennan and the People“The importance of independence between central banks and monetary policy.

“There’s virtually unanimous unanimity among economists that financial independence from political interference, that the Fed or central bank can do the necessary work, but it’s really important,” Goolsbee said.

“We strongly hope that we will not move ourselves into an environment where financial independence is questioned.

Tariff worries continued to plague investors after China’s warning against an attack with the US at Beijing’s expense. Fed policymakers have also flagged cloudy profit margin outlook due to tariff uncertainty.

President Donald Trump, left, Chinese President Xi Jinping (Getty Images/Getty Images)

According to data compiled by LSEG, traders are priced at around 90 basis points this year from the Fed this year.

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There is uncertainty regarding trade and monetary policy This year, I’ll hit stocks hard, The S&P 500 is down more than 15% from its record high in February.

Fox Business ‘Eric Revell and Reuters contributed to this report