Trump's Fed Attacks Shake Markets: Stocks Tumble, Dollar Dives

Major U.S. stock indexes fell and the dollar slid to a three-year low as President Trump's criticism of the Federal Reserve Chair Jerome Powell raised concerns over monetary policy. Investors turned to gold and the Swiss franc amidst fears of a slowing economy and an escalating trade war.

Major U.S. stock indexes dropped and the dollar index slid to a three-year low on Monday due to President Donald Trump's continued attacks on Federal Reserve Chair Jerome Powell and the bank's monetary policy. These developments have rattled investors, who are seeking refuge in safe-haven assets like gold and the Swiss franc.

Trump reiterated his call for immediate rate cuts and criticized Powell's handling of the economy. This has fueled worries about the Fed's policy independence and the prospects for U.S. financial assets. With most markets closed for Easter Monday, insufficient liquidity exacerbated market volatility.

The tensions in financial markets are further intensified by the deepening Sino-U.S. trade war, as Beijing warns against dealings that disadvantage China. The escalating concern, along with mixed economic signals, continues to weigh on investor sentiment, manifesting in declines for key stock indexes and shifts in currency and commodity markets.

(With inputs from agencies.)