Stocks Surge Amid Federal Reserve Tensions and Tariff Concerns

U.S. stocks experienced a 1% rise on Tuesday following a market downturn, while the dollar saw a slight recovery. Investor attention was on President Trump's criticism of Federal Reserve Chair Jerome Powell and the ensuing concerns about monetary policy and tariffs impacting global trade.

U.S. stocks climbed over 1% early Tuesday, rebounding from the previous day's dip, as the U.S. dollar slightly recovered. Investors were closely monitoring President Donald Trump's criticism of Federal Reserve Chair Jerome Powell.

The stock market uptick came amid the release of first-quarter reports from American companies, with industrial giant 3M Co's shares soaring 5% after surpassing profit expectations. Despite this, the company's outlook was marred by anticipated tariff impacts on its 2025 profits. Trump's continuous critiques of Powell, accusing him of failing to reduce interest rates, fueled investor apprehension about potential White House interference with central bank policies.

Global trade concerns were heightened as the International Monetary Fund slashed growth forecasts, citing excessive U.S. tariffs. Concurrently, gold prices topped $3,500, hitting an all-time high as the dollar faltered amid fears over U.S. tariffs. Crude oil prices also saw an upward trend, with U.S. crude and Brent both climbing for the day.

(With inputs from agencies.)