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Fortune
Fortune
Jim Edwards

Global markets are all over the place after U.S. stocks slumped following Trump’s attacks on Fed chair Powell

  • The markets this morning: The VIX fear index remains elevated. Bitcoin is up 1% to $88K. Asian markets were up marginally or flat. Stocks in Europe lost 0.3% this morning in early trading. Futures contracts for the S&P 500 were up 1% this morning premarket, suggesting some investors think yesterday’s crash — the S&P 500 was down 2.4% yesterday after President Trump attacked Fed Chair Jerome Powell — might be oversold.

Stocks: The Dow, S&P 500, and the Nasdaq all lost more than 2% yesterday after President Trump renewed his attacks on U.S. Federal Reserve chair Jerome Powell. The president previously called for Powell to go, but yesterday called him “Mr. Too Late, a major loser.” Gold hit record highs, though the dollar fell to a three-year low.

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