The S&P 500 Index ($SPX) (SPY) today is down -0.23%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.58%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.27%. March E-mini S&P futures (ESH26) are down -0.22%, and March E-mini Nasdaq futures (NQH26) are down -0.30%.
Stock indexes are under pressure today as the Trump administration's attacks on the Federal Reserve have increased concerns about Fed independence and prompted a “Sell America” sentiment in US asset markets. Stocks, government bonds, and the dollar are sliding today, and gold and silver soared to new all-time highs after Fed Chair Powell said the threat of a US criminal indictment was a consequence of a disagreement with the Trump administration over monetary policy. The 10-year T-note yield is up +2 bp to 4.19%.
