June S&P 500 E-Mini futures (ESM25) are down -1.09%, and June Nasdaq 100 E-Mini futures (NQM25) are down -1.23% this morning, pointing to a sharply lower open on Wall Street as U.S. President Donald Trump’s threats to fire Federal Reserve chief Jerome Powell weighed on sentiment.
On Friday, National Economic Council Director Kevin Hassett stated that President Trump is examining whether he’s able to fire Powell. A day earlier, Trump posted on social media that Powell’s removal “cannot come fast enough,” while ramping up pressure on the central bank to lower interest rates. Such remarks have stoked worries about the Fed’s independence, dampening investor sentiment.
