US Stocks Slump as Trump’s Threat to Fire Powell Adds Pressure

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Bloomberg Intelligence hosted by Paul Sweeney and Alix Steel

Today’s Podcast Features are:

Tom Orlik, Bloomberg Economics Chief Economist, discusses US stocks falling on Monday due to concerns that President Donald Trump will fire Fed Chair Jay Powell and implement policies that could lead to a recession.

Phil Orlando, Chief Equity Market Strategist and Head of Client Portfolio Management at Federates Hermes, discusses his outlook on the markets. A selloff in US assets deepened as President Donald Trump stepped up criticism of Jerome Powell on social media, with stocks, the dollar and longer-dated Treasuries sliding amid concerns about the Federal Reserve’s future independence.

Ros Mathieson, Bloomberg News Director for Europe, the Middle East and Africa, discusses death of Pope Francis. Pope Francis, who encouraged Catholics to embrace a more compassionate view on many issues but found it difficult to close the book on past abuses by clergy, died at the age of 88.

Julie Biel, Chief Market Strategist & Portfolio Manager at Kayne Anderson Rudnick, discusses her outlook for the markets. Trump’s assurances that tariff talks were progressing did little to stop a market rout. The S&P 500 and other major stock indexes fell nearly 3% each while the dollar index weakened to a 15-month low.

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