The post S&P 500 and Nasdaq extend declines as Nvidia and Tesla stocks crash appeared on BitcoinEthereumNews.com.

The S&P 500 and Nasdaq Composite both dropped hard on Monday, pulling the rest of the market down with them as Nvidia and Tesla got crushed. This happened while President Donald Trump escalated his attacks on Federal Reserve Chair Jerome Powell, demanding that interest rates be cut immediately. Trump’s public assault, posted on Truth Social, calling Powell “Mr. Too Late, a major loser,” shook investor confidence and triggered a wave of sell-offs. The Dow Jones Industrial Average sank 925 points, down 2.4%. The S&P 500 also lost 2.4%, while the Nasdaq fell 2.91%, officially re-entering bear market territory. Losses were led by the so-called Magnificent Seven tech stocks, especially Nvidia, which dropped 5%, and Tesla, which lost 7% by press time. Amazon fell 4%, while Meta Platforms and Advanced Micro Devices both dropped 3%. Even Caterpillar, a major equipment company, slipped 3%. Markets fell to their lowest levels of the session right after Trump’s statement. The dollar also took a hit, falling to a three-year low. On the flip side, gold surged above $3,400 an ounce, setting a new record high. The panic was clear across every corner of Wall Street. Trump’s attacks and trade wars shake investor confidence Analyst Adam Crisafulli from Vital Knowledge said investors were facing “a fresh source of macro anxiety” due to Trump’s threats against Powell. He explained that Powell and other Fed officials were stuck because rate cuts could set off a wave of inflation, especially with tariffs still looming. Crisafulli added that the current collapse across stocks, the dollar, and Treasury bonds made it clear that Trump’s trade war had started a flight away from U.S. financial markets. He made it clear: this isn’t something any negotiation can fix. Investor confidence also took another blow from the stalled global trade talks. There’s been…

---

Filed under: News - @ April 21, 2025 4:23 pm