On Monday, U.S. equities continued their downward trend, with the Dow declining nearly 1,000 points. President Trump’s renewed criticism of Fed Chair Jerome Powell’s independence left investors on edge, while global trade developments failed to provide any comfort.

Market Overview

• Dow Jones Average: Down by 971.82 points (-2.48%) to 38,170.41

• S&P 500: Down by 2.36% to 5,158.20

• Nasdaq Composite: Down by 2.55% to 15,870.90

Fed Independence Under Scrutiny

• “Mr. Too Late” Remarks: Trump characterized Powell as a “major loser” on social media, claiming that growth might lag unless rates are cut immediately.

• Discussion of Termination: Talk of Powell’s potential ousting is still being evaluated, according to Kevin Hassett, raising doubts regarding policy.

• Market Consequences: Persistent attacks on the Fed’s autonomy are driving up bond yields and widening equity risk premiums.

Trade Relations Fail to Soothe Investor Concerns

• 90-Day Tariff Suspension: Some exemptions for trading partners have yet to yield evident relief for exporters.

• Global PMI Outlook: The Flash April PMIs will be pivotal in assessing how trade policy changes are influencing business activity.

Upcoming Economic Indicators to Watch

1. Flash PMIs (Wednesday)

   • These will serve as early indicators of performance in manufacturing versus services in light of trade policy adjustments.

2. Fed Commentary

   • Speeches from regional presidents alongside Fed minutes will provide insights into inflation vs. growth considerations.

3. Durable Goods Orders (Thursday)

   • This will give insights into whether businesses are frontloading capital investments ahead of tariff impositions.

Utilize Economic Release Tools for Monitoring

Remain alert to market catalysts like PMIs, durable goods data, and Fed comments through the
Economics Calendar – Economics Data API
from Entreprenerdly.com.