4E: Trump Criticizes Powell Again, US Stocks Plummet, Bitcoin Rises Against the Trend

Blockbeats
04-22

BlockBeats News, April 22: According to 4E monitoring, Trump once again harshly criticized Federal Reserve Chair Powell and threatened the Fed's independence, causing concerns in the market about the credibility of the US dollar and leading to worries about the US economy's downturn. On Monday, the US stock market experienced a "Black Monday," with the three major indexes collectively plunging: the Dow fell 2.48%, the Nasdaq dropped 2.55%, and the S&P 500 declined 2.36%. Tech stocks suffered across the board, with Tesla falling over 5%, Nvidia falling over 4%, and the combined market value of the "Big Seven" US tech companies evaporating by $404.6 billion.

The crypto market decoupled from the US stock market and rose against the trend. Bitcoin has been rising since yesterday's early trading, with Strategy announcing a $556 million investment to once again purchase 6,556 bitcoins (average price of $84,785), boosting market sentiment. Despite the sharp drop in the US stock market, Bitcoin remained stable around $87,000. This morning, Bitcoin quickly rose again, reaching a high of $88,877, hitting a new monthly high with a 24-hour gain of 1.42%. Bitcoin led the crypto market as altcoins came under pressure, with Ethereum falling below $1,600, a 3% drop; SOL was at $138.75, with a nearly 1.72% drop in the past 24 hours.

In the foreign exchange and commodities markets, the US Dollar Index plummeted by 0.94% to near 98, hitting a new 16-month low; oil prices fell, with US oil dropping by 2.06%; spot gold rose by 2.90%, reaching a new high.

Trump's continued attacks on the Federal Reserve have left investors concerned. While low-interest rates are a short-term benefit to the stock market, damage to the Fed's independence may weaken its long-term ability to control inflation, threatening the US dollar's position as the world's safest asset and shaking the foundation of the US economy. The market is on high alert, and risk aversion sentiment is surging.

As a financial trading platform supporting cryptocurrency, stock indexes, precious metals, forex, and other assets, 4E has recently launched a USDT stablecoin financial product with an 8% annualized return rate, providing investors with a potential safe haven option. 4E reminds users to be cautious of market volatility and to allocate assets reasonably.

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