Crypto markets avoided the fallout caused by US President Donald Trump’s latest salvo against Federal Reserve Chair Jerome Powell, which saw the US stock market slump and the dollar continue to weaken over uncertainty.
Stock markets across the United States ended April 21 in the red, with the S&P 500 dropping 2.4%, the tech-heavy Nasdaq slipping 2.5%, and the Dow Jones losing 2.5%, or nearly 1,000 points, according to Google Finance.
The S&P 500 has now declined by more than 12% since the beginning of the year, and the Nasdaq is down almost 18% in the US tech stock exodus.
US stock heatmap. Source: TradingView
The stock slide follows escalating tension between Donald Trump and Jerome Powell and growing concern over the impact of trade tariffs.
“‘Preemptive Cuts’ in Interest Rates are being called for by many,” Trump wrote on his social media platform