Stock Markets Tumble Following Federal Reserve Chairs Concerns Over Economy And Tariffs

US stocks were lower Thursday morning after President Donald Trump called for the termination of Federal Reserve Chair Jerome Powell for not cutting interest rates fast enough — a criticism he has levied multiple times in a long-standing feud between the president and the Fed chair.

The Dow tumbled 700 points, or 1.8%. The broader S&P 500 slid 0.3% and the tech-heavy Nasdaq Composite fell 0.65%, erasing their gains after opening higher.

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