Monday Afternoon Coffee - Markets Update - 21 Apr 2025 - Markets Slide as Trump Ramps Up Fed Criticism; Gold Hits Another Record

The Trade Academy Team
Apr 21
2 min read

Markets Update: U.S. stocks sank sharply Monday and the dollar tumbled to multi-year lows after President Donald Trump renewed his attacks on Federal Reserve Chair Jerome Powell, unsettling investors already on edge over monetary policy and trade tensions. Gold soared to another all-time high as traders sought shelter in safe-haven assets.

Global Markets Roundup: 21 Apr 2025

The Dow Jones Industrial Average dropped 937.33 points, or 2.39%, to 38,205.01, while the S&P 500 slid 128.08 points, or 2.43%, to 5,154.25. The Nasdaq Composite plunged 446.75 points, or 2.75%, closing at 15,839.28. Global stocks followed suit, with MSCI’s world index falling nearly 1% in thin holiday trading. Markets reeled after Trump reiterated his call for immediate rate cuts, warning that the U.S. economy could slow without swift action from the Fed.

Dollar Drops, Gold Soars

The U.S. Dollar Index DXY slumped to a three-year low of 97.923, weakening broadly. The dollar fell 1.07% against the Swiss franc to 0.808, marking a decade-low, and dipped 0.98% to 140.78 versus the yen USDJPY. The euro EURUSD broke above the $1.15 threshold, last trading at $1.1498, up 0.94%.

Spot gold surged 2.6% to settle at $3,414.91 an ounce, after briefly hitting a new record of $3,424.25. The Swiss franc also gained as traders rotated into safer assets amid growing policy uncertainty.

Treasuries Edge Higher, Crypto Rallies

Benchmark 10-year U.S. Treasury yields rose modestly to 4.346%, up 1.9 basis points from Thursday, despite broader market stress. Cryptocurrencies rallied, with Bitcoin jumping 3.88% to $88,384.03 and Ethereum climbing 3.07% to $1,638.04, as digital assets tracked broader safe-haven momentum.

Tariff Tensions Escalate

Adding to the turbulence, China accused the U.S. of abusing its tariff powers and warned other nations against aligning with Washington. Trump’s ongoing trade battles, coupled with Powell-related controversy, have fueled fears of policy instability heading into a critical earnings week. Alphabet is among the major companies scheduled to report results this week, as corporate America navigates a rapidly shifting economic and geopolitical backdrop.

Commodities Mixed

Oil prices dropped on demand concerns, with WTI crude down 2.66% to $62.96 a barrel and Brent falling 2.71% to $66.12. In agriculture, soybean futures rose 0.3% to $10.50½ a bushel, reaching a nearly two-month high of $10.55 earlier in the day. Corn gained 0.6% to $4.85 a bushel, while wheat slipped 0.3% to $5.60¾ after a two-day rally.

Looking forward refer to the economic calendar below to see the upcoming events scheduled for today and the rest of the week.

General news - Information source from multiple newswires.

The article and the data is for general information use only, not advice!

The Trade Academy Team