Following President Trump's renewed attacks on Fed Chair Jerome Powell, investors engaged in a "sell America" trade, causing US stocks and bonds to plummet and the dollar to hit a three-year low. The S&P 500, Dow Jones, and Nasdaq all experienced significant declines, while Treasury yields rose. This move follows Trump's previous calls for Powell's termination and reflects investor concerns about White House interference in the Fed's independence and the potential for de-dollarization. The sell-off was exacerbated by ongoing trade tensions with China and uncertainty surrounding US economic growth.

Prepared by Christopher Adams and reviewed by editorial team.