US stock markets fell sharply on Monday, with the Dow down 1,000 points (2.8%) and the Nasdaq and S&P 500 also experiencing significant declines, as former President Donald Trump criticized Federal Reserve Chair Jerome Powell for not lowering interest rates amid inflation concerns linked to new tariffs. Trump’s escalating attacks, including calls for Powell’s termination, have unsettled Wall Street, erasing gains made after a temporary pause on tariffs. Powell has defended the Fed’s independence and cautioned about the inflation risks posed by tariffs, emphasizing that the Fed is unlikely to cut rates soon.
