A trader works on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York City on March 10, 2025. (Photo by CHARLY TRIBALLEAU / AFP) (Photo by CHARLY TRIBALLEAU/AFP via Getty Images)
Stocks volatile after Trump pressures Powell for rate cuts, Tesla earnings on tap: Live Updates – Fox Business
2025-04-22T18:35:02Z
The Dow, S&P 500 and Nasdaq Composite look to rebound after a sharp selloff Monday following another slap on Federal Reserve Chairman Jerome Powell by President Trump in a push to cut interest rates. Separately, Tesla earnings are due after the bell in what m…
Breaking News Dow spikes 1,000 points as investors hope for de-escalation of trade tensions
Symbol Price Change %Change I:DJI $38,753.12 582.71 1.53 SP500 $5,234.43 76.23 1.48 I:COMP $16,149.34 278.44 1.75
U.S. stocks climbed on Tuesday as investors hoped for a de-escalation of trade tensions.
The Dow Jones Industrial Average ended the trading session up more than 1,016.57 points, or 2.66%, while the S&P 500 and Nasdaq Composite climbed 2.51% and 2.71%, respectively.
The major indexes rose after Bloomberg, citing sources, reported that Treasury Secretary Scott Bessent told an investor summit that the trade war with China is unsustainable and that he expects the trade war to de-escalate.
In the prior session, stocks fell as investors watched for signs of progress on trade talks, and after President Donald Trump continued criticizing Federal Reserve Chairman Jerome Powell.
The Dow dropped 971.82 points, or 2.48%, while the S&P 500 and Nasdaq Composite were down 2.36% and 2.55%, respectively.
Trump, in a post on Truth Social, attacked Powell and claimed energy costs and food prices are “substantially lower” and that there is “virtually No Inflation.”
“With these costs trending down so nicely, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW,” Trump said.
The president’s comments come after he said in a Truth Social post last week that Powell is “always TOO LATE AND WRONG” and that, “Powell’s termination cannot come fast enough.”
Trump’s repeated criticisms of Powell and the Fed have raised concerns about the long-term independence of the central bank as it makes monetary policy decisions.
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