DJI: Dow Jones Extends Monthly Drop to Over 9%, On Track for Worst April in 93 Years
1 min read
Key points:
- Dow down 9% in April
- Trump vs Powell gets wild
- Stocks plunge across the board
Attacks from President Trump on Powell’s mandate as Fed chair had investors worried about the US economic outlook.
📉 Dow Treads Worst April Since 1932
- It’s giving… Great Depression — the Dow Jones Industrial Average index
DJI is on track to close its worst April since 1932. The 30-stock index has been battered to the point of losing more than 9% this month. And we’ve got six more trading sessions to go. - While markets have had plenty to stress over lately — inflation uncertainty, soft data, global trade tensions sparked by tariff hikes — one storyline is doing most of the damage right now: Donald Trump vs. Jay Powell.
💥 Powell Pressure Campaign Spooks Markets
- President Trump intensified his public pressure campaign against Federal Reserve Chair Jay Powell, calling for immediate rate cuts and questioning Powell’s job security. The result? Investors got uneasy.
- A credible, apolitical Fed is one of the few constants the market relies on, and when that foundation starts to look shaky, sentiment takes a hit across the board. Add Trump’s escalating trade rhetoric into the mix — including tariff threats on China — and you’ve got a recipe for broad-based selling.
🌀 Stocks Spiral on “Major Loser” Offense
- The Dow, heavily weighted toward traditional, rate-sensitive sectors like industrials and financials, has been feeling the brunt of that pressure. And with no sign that the political temperature will cool down anytime soon, April’s volatility hinges on what happens with Jay Powell amid Trump’s efforts to kick him out.
- On Monday, futures contracts were in the red with traders getting defensive in the face of Trump’s attacks on Powell. As the cash session kicked off, things really went spiraling — Trump called Powell a “major loser” and demanded immediate rate cuts.
- The Dow washed out 972 points, or 2.5%, followed by the S&P 500, which erased 2.4%. The Nasdaq Composite, packed with risky tech plays, tumbled the most — over 2.5%.