Last night, the three major indexes of the USA stock market fell sharply, and Gold rose again in the night session!
$Nasdaq Composite Index (.IXIC.US)$Fell by 2.55%, $S&P 500 Index (.SPX.US)$Fell by 2.36%, $Dow Jones Industrial Average (.DJI.US)$Fell by 2.48%
$XAU/USD (XAUUSD.CFD)$Throughout the day, there was an increase, closing up 2.92% yesterday, and continues to rise during the Asian session, hitting 3,500 USD.
Currently, the market is becoming increasingly uneasy about dollar assets, selling off from US stocks to US bonds, and from US bonds to dollars, while only Gold is being bought significantly.
Last night, the 10-year US Treasury bond faced selling pressure. $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ It rose sharply due to the selling of dollars. $USD (USDindex.FX)$ Falling below 99 points, it reached a new low in nearly three years.
The massive sell-off of US stocks, US Treasury bonds, and the US dollar was primarily ignited by Trump.
Last night, just minutes after the US stock market opened, he criticized Powell for being too slow to cut interest rates.
He stated that if Powell does not cut interest rates in a timely manner, the USA economy might experience a slowdown.
Why did Trump's criticism of Powell trigger such a huge stir?
The Federal Reserve has always existed as an independent institution, and its decisions are not influenced by the president.
The Federal Reserve aims for full employment and stable prices and will not be influenced by the president's ZZ strategy.
Also because...