U.S. financial markets took a sharp hit today after former President Donald Trump launched a scathing attack on Federal Reserve Chair Jerome Powell.

In a series of public comments, Trump criticized Powell’s handling of monetary policy, blaming him for slowing economic growth and weakening the nation’s financial standing.

The fallout was immediate: major U.S. stock indexes tumbled, with the Dow Jones Industrial Average falling over 600 points by mid-afternoon.

The S&P 500 and Nasdaq also posted significant losses, marking one of the worst trading sessions in recent months.

Meanwhile, the U.S. dollar weakened sharply against major global currencies, including the euro, yen, and British pound.

Investors fled to safe-haven assets like gold and government bonds, pushing yields lower and signaling deep market anxiety.

Trump accused Powell of being “too slow” to adjust interest rates and failing to protect American competitiveness in the face of global economic uncertainty.

“Jerome Powell is sinking our economy,” Trump said during a televised interview. “He doesn’t have the strength or vision we need right now.”

The Federal Reserve declined to directly respond to Trump’s remarks but reiterated its commitment to making “independent, data-driven decisions.”

Markets had already been jittery in recent weeks over signs of slowing economic growth, stubborn inflation, and geopolitical tensions.

Trump’s attack has further complicated the outlook for monetary policy, with analysts predicting more volatility ahead.

Economists fear that continued political pressure on the Fed could undermine investor confidence and delay critical decisions on interest rates.

Some political analysts suggest Trump’s criticism is part of a broader strategy to position himself as the “economic savior” in his ongoing election campaign.

By day’s end, Wall Street was bracing for further turbulence, as traders awaited upcoming comments from Powell and other Fed officials to stabilize markets.

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US Stocks and Dollar Fall Sharply After Trump Attacks Fed Chair Powell