The US stock market experienced a turbulent trading session on Thursday as investors grappled with President Donald Trump’s criticism of Federal Reserve Chair Jerome Powell and ongoing trade uncertainties. The Dow Jones Industrial Average fell 527.16 points, or 1.33%, to close at 39,142.23, marking its third consecutive day of losses. The S&P 500 managed to edge up 0.13% to 5,282.70, while the Nasdaq Composite slipped 0.13% to 16,286.45.
Stocks To Watch | 📊Keep an eye on these stocks as they set the market abuzz #StockMarket pic.twitter.com/SUs1gOru3Z
— ET NOW (@ETNOWlive) April 21, 2025
President Trump lashed out at Powell on social media, suggesting his “termination” for not cutting interest rates swiftly enough.
However, Trump later assured reporters of a “100%” chance of a trade deal with the European Union and a “very good deal” with China, briefly boosting market sentiment. Federal Reserve Chair Powell, speaking at an economic event in Chicago, expressed concerns over the impact of Trump’s tariffs on economic growth and inflation, further complicating the central bank’s tasks.
#MarketAlert | Numerous stocks touch their 52-week high amid the market rally last week; take a look👇 #Nifty #StockMarket #StockMarketIndia pic.twitter.com/pRAhRf2e1T
— ET NOW (@ETNOWlive) April 21, 2025
Dow slides amid Trump criticism
UnitedHealth led the declines, with shares tumbling 22% following disappointing earnings and outlook reports.
From the @FT:
“Wall Street banks have slashed their targets for the main US share gauge over the past fortnight.”#markets #stocks #Investing #investors pic.twitter.com/h1vaR6I2NV— Mohamed A. El-Erian (@elerianm) April 19, 2025
Nvidia also dragged the market down, dropping nearly 3% on Thursday after announcing a $5.5 billion charge related to U.S. export controls affecting its H20 graphics processing units.
Huge reversion to the mean so far this year with Eurozone stocks UP 13% and International Stocks stocks overall UP 5% while the S&P 500 is DOWN 10%. This comes after 16+ years of US outperformance, the longest run in history.
Video: https://t.co/bOI6drdCEz pic.twitter.com/14yG3xChcl
— Charlie Bilello (@charliebilello) April 19, 2025
On a positive note, Eli Lilly’s stock surged 14% after revealing positive results for a new weight-loss drug, while Netflix saw a 1% increase ahead of its earnings report. Overall, the major averages posted weekly losses, with the Dow and Nasdaq declining by more than 2% and the S&P 500 falling by 1.5%. The market remains in a state of flux as investors closely monitor developments on trade deals and economic policies.
In corporate news, Raymond James downgraded Coty due to headwinds in its consumer and prestige fragrance sectors. Meanwhile, Loop Capital upgraded Warby Parker, citing the significant decline in its shares as a potential buying opportunity. As business leaders and households express high uncertainty and the potential for future inflation rises, market volatility continues to impact sectors across the board.
