Stocks shrug, hit record highs after Trump ups the ante against Jerome Powell and the Fed
CNN••business
Key Points:
- Investors initially sold off US stock futures, bonds, and the dollar following the Trump administration’s criminal investigation into Federal Reserve Chair Jerome Powell, reviving the “Sell America” trade.
- Despite early losses, US stocks rebounded on Monday, with the Dow, S&P 500, and Nasdaq all closing at record highs, while the dollar weakened and bond yields rose, signaling market uncertainty.
- Gold and silver surged to record highs as investors sought safe havens amid concerns over the Fed’s independence and potential market volatility.
- Market experts warn that ongoing threats to the Fed’s independence could undermine confidence in the dollar, raise long-term yields, and increase global market volatility, contrary to the administration’s goals.
- The situation echoes
