Stocks and dollar slide as Trump's Fed attacks jangle nerves

By Ankur Banerjee

SINGAPORE (Reuters) - Asian equities and U.S. banal futures slid connected Monday portion the dollar slumped, arsenic anxiousness implicit tariffs and nationalist disapproval of the Federal Reserve by President Donald Trump deed sentiment, starring golden prices to a caller high.

Trump launched a bid of attacks against Fed Chair Jerome Powell connected Thursday, with his squad evaluating whether they could occurrence Powell, a determination that has large effect for the cardinal bank's independency and for planetary markets.

Most markets were closed connected Friday and immoderate stay connected vacation for Easter Monday.

S&P 500 futures fell 0.64% and Nasdaq futures eased 0.53%. In Asia, Japan's Nikkei fell 1% portion South Korea's benchmark scale was steady.

"Markets are already connected borderline owed to escalating geopolitical tensions, and present concerns are rising that Trump's imaginable interference with the Fed could adhd different furniture of uncertainty," said Charu Chanana, main concern strategist astatine Saxo successful Singapore.

"Any signs of governmental unit connected monetary argumentation could undermine the Fed’s independency and complicate the way up for involvement rates conscionable arsenic investors are looking for stableness amid planetary volatility."

Trump's tariffs person roiled fiscal markets and triggered a convulsive selloff successful Treasuries and the dollar that formed caller uncertainty connected the long-held content successful the safe-haven presumption of U.S. assets.

The shaky assurance successful U.S. assets has been exacerbated by Trump's attacks connected the Fed, with the dollar crumbling against astir different currencies. The euro touched a three-year high, portion the yen was astatine a seven-month peak.

The Swiss franc strengthened 0.6% against the dollar and was hovering adjacent the 10-year highest it touched earlier this month.

Chicago Federal Reserve President Austan Goolsbee said connected Sunday that helium hopes the United States is not moving to an situation wherever the quality of the cardinal slope to acceptable monetary argumentation autarkic of governmental unit is questioned.

The output connected the benchmark U.S. 10-year Treasury enactment roseate 3 ground points to 4.358% successful aboriginal Asian hours.

With the U.S. net play kicking off, capitalist absorption this week volition beryllium connected results from tech elephantine Alphabet, chipmaker Intel and EV shaper Tesla.

All the Magnificent Seven megacap stocks are sharply little successful 2025, with Alphabet down astir 20% and Tesla disconnected 40%.

Companies and investors are grappling with a tariff scenery poised to support shifting arsenic the Trump medication negotiates with different countries.

While Trump has paused immoderate of the heftiest levies connected imports, the U.S. is besides locked successful a commercialized conflict with China, the world's second-largest economy.