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International Business Times
International Business Times
Business

Asian Stocks Down After Trump Fed Firing, Tariff Threats

Donald Trump United States Jerome Powell Lisa Cook US Federal Reserve
Donald Trump's firing of Fed governor Lisa Cook (L) has rattled global markets (Credit: AFP)

Asian stocks retreated Tuesday after a series of market-rattling announcements by US President Donald Trump, including the unusual firing of a central bank official and threats to impose export controls on microchips.

Traders had been riding a wave of confidence since Friday's speech by US Federal Reserve Chairman Jerome Powell, which suggested coming interest rate cuts in the world's largest economy.

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