Global Markets Tumble; Gold Soars Amid Fed Independence Turmoil
U.S. and global markets wobbled as Federal Reserve Chair Jerome Powell revealed the Trump administration threatened him with a criminal indictment — fueling investor anxiety over central bank independence. This sparked a safe-haven rush into gold (to record highs) and weakness in stocks and the dollar.
📊 Key Facts:
• Gold jumped to over $4,600/oz as investors sought safety amid political pressure on the Fed.
• U.S. equities and futures dipped, with S&P 500 and Nasdaq futures lower as volatility surged.
• U.S. dollar weakened broadly, boosting risk-sensitive currencies and safe havens.
• Geopolitical risks (Iran unrest, Venezuela developments) added to market anxiety.
💡 Expert Insight:
Market sentiment is now pricing in increased uncertainty around U.S. monetary policy and geopolitical risk — lifting safe havens like gold while dampening risk assets and the dollar.
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