U.S. stocks experienced a significant decline after President Donald Trump urged Federal Reserve (Fed) Chairman Jerome Powell to cut interest rates. This comes amid increasingly strong signs that Trump's trade war is pushing the economy toward recession. As a result, the dollar and long-term Treasury bonds also fell, while gold saw a surge.
At the close on Wall Street, the Dow Jones dropped by 2.48%, reaching 38,170 points; the S&P 500 lost 2.36%, reaching 5,158 units, and the Nasdaq fell by 2.55%, down to 15,870 points. In this volatile scenario, Tesla plummeted by 5.7% before releasing its results on Tuesday. Many companies have lowered their annual forecasts, and analysts are quickly reducing their earnings growth expectations for major U.S. companies.
In addition to calling for Powell's dismissal, Trump has caused nervousness in the markets due to his aggressive tariff policy, which has triggered a trade war with China and is putting upward pressure on prices. In other markets, oil fell by 2.47%, reaching $63.08 per barrel, while traders closely monitored discussions between Iran and the U.S. over the nuclear issue.
Regarding the Mexican Stock Exchange (BMV), there was a 1.4% advance in its main indicator, reaching 53,758.75 units. Jesús Anacarsis López, Deputy Director of Economic and Financial Analysis at Banco Base, explained that this increase was due to a positive streak of four sessions, reaching the highest level since April 3. Furthermore, Enrique Covarrubias, Director of Economic Analysis at Grupo Financiero Actinver, pointed out that the Mexican index has increased by 2.4% in April and 8.6% so far in 2025.
The Mexican peso appreciated by 1.25% against the dollar, quoted at 19.71 units per greenback, after having reached 19.96 in the previous session, according to data from Banco de México. Criticism of Trump regarding his latest demands on Powell to take action on interest rates raises doubts about the independence of the central bank from political influence, as well as the stability of U.S. financial markets.
Criticism of Trump resurfaces amid earnings season, with uncertainty over his influence on central bank policy. GreenSweet suffered an 8.2% drop after its Chief Operations Officer announced his resignation. At a delicate moment, Trump's demands on Jerome Powell have once again raised concerns about presidential interference in Federal Reserve policy.
