Stocks To Watch | đź“ŠKeep an eye on these stocks as they set the market abuzz #StockMarket pic.twitter.com/SUs1gOru3Z
— ET NOW (@ETNOWlive) April 21, 2025
The stock market experienced a choppy day on Thursday as investors reacted to President Donald Trump’s criticism of Federal Reserve Chair Jerome Powell and mixed economic news. The Dow Jones Industrial Average fell 527 points, or 1.33%, while the S&P 500 managed to eke out a small gain of 0.13%. The tech-heavy Nasdaq Composite dipped 0.13%.
Trump lashed out at Powell on social media, calling for his “termination” for not cutting interest rates quickly enough.
#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
However, the markets shrugged off the criticism and gained some ground in the afternoon as Trump expressed optimism about trade deals with Europe and China. The Dow was dragged lower by UnitedHealth Group, which sank 22.38% after cutting its profit forecast for the year.
As a significant component of the Dow, UnitedHealth’s drop had a pronounced impact on the index.
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
Federal Reserve Chair Jerome Powell issued a warning about the US economy at an Economic Club of Chicago event, refuting some of Trump’s claims.
Trump criticizes Powell amid market volatility
Powell noted that Trump’s tariffs could stoke inflation and hinder economic growth.
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
Investors also digested earnings results for the first quarter, with companies indicating that economic uncertainty makes it difficult to plan ahead. United Airlines, for example, issued two versions of its guidance: one for a recession scenario and one for a stable scenario.
In corporate news, Alphabet, Google’s parent company, slid 1.38% after a federal judge ruled that Google has illegally built a monopoly with its web advertising business. Nvidia fell 2.87% after tumbling 6.87% on Wednesday following news that the US government imposed export restrictions on its chips to China. By the end of the day, the yield on the 10-year Treasury rose to 4.326%, and oil prices settled higher with US oil rising 3.54% to $64.68 a barrel.
Brent crude gained 3.2% to $67.96 a barrel, buoyed by prospects of a trade deal with the EU. The major indices posted losses for the week, with both the Dow and Nasdaq losing more than 2% and the S&P 500 sliding 1.5%. As investors continue to navigate the challenges posed by tariff policies and market volatility, many are keeping a close eye on trade negotiations and upcoming earnings reports for further market direction.