(Reuters) – The New York Stock Exchange opened on Monday, the new attacks by Donald Trump against the president of the American federal reserve, Jerome Powell, having aroused concern about the independence of the central bank and destabilized investors confronted with the escalation of the trade war.
In the first exchanges, the Dow Jones index loses 285.06 points, or 0.73%, at 38,857.17 points and the Standard & Poor’s 500, wider, fell from 0.98% to 5,230.72 points.
The Nasdaq Composite gives in 1.45%, or 236.00 points, to 16,050.45 points.
Donald Trump launched a brutal attack on the president of the Fed, Jerome Powell on Thursday, the team of the American president evaluating the possibility of dismissing him, a measure which would even further erode confidence in American assets.
“The markets are already in CRAN because of the climbing of geopolitical tensions, and it is now concerned that Trump’s potential interference in the FED will add a new layer of uncertainty,” said Charua Chanana, investment strategist at Saxo in Singapore.
“Any sign of political pressure on monetary policy could undermine the independence of the Fed and complicate the trajectory of interest rates, at the very moment when investors seek stability in a context of global volatility,” she added.
Most of the markets were closed on Friday and some, including in most Europe, were still so for Easter Monday, causing low volumes of exchange.
Investors will focus this week on the results of the technological company Alphabet, the Intel fleas specialist and the Tesla electric vehicle manufacturer.
At the values, Netflix gained 2.93%, the prospects for an annual optimistic turnover of the group that reassured investors on its ability to resist any economic slowdown in a context marked by customs duties.
NVIDIA lost 3.54% after one of the information that Huawei Technologies is planning mass deliveries from its 910C artificial intelligence chip to Chinese customers next month, while China is looking for alternatives to the American giant.
Capital One advances by 2.23% after American bank regulators said on Friday that they approved the takeover of Discover Financial Services for 35.3 billion dollars, thus paving the way to the creation of the eighth largest bank in the country by the two combined companies.
Tesla decreases 5.43% after the announcement of the production of the Y model, cheaper, in the United States.
(Written by Mara Vîlcu, edited by Kate Entringer)
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