Wall Street stumbles as Trump bashes Fed chair Powell again

Wall Street saw a rough start to the week, with U.S. stocks sliding for a fourth consecutive session on Monday.

The major losses come as U.S. President Donald Trump picked on Fed Chair Jerome Powell yet again for not lowering interest rates.

Lee Seung-jae reports.

Wall Street stumbled to a close on the week's first trading session on Monday.

The Dow Jones Industrial Average fell 971-point-8-2 points, or 2-point-4-8 percent, to close at 38-thousand-170-point-4-1.

The S&P 500 shed 2-point-3-6 percent, while the tech-heavy Nasdaq fell 2-point-5-5 percent to settle at 15-thousand-870-point-9-0.

The so-called 'Magnificent Seven' tech giants all dragged the major indexes lower, with Tesla losing 5-point-8 percent, while Nvidia shed more than 4 percent.

Wall Street saw U.S. stocks tumble and bonds sold off as U.S. President Donald Trump threw fresh criticism towards U.S. Fed Chair Jerome Powell on Monday,.. pressuring him to cut interest rates.

Taking to social media, Trump said the economy would slow unless Powell, who he called "Mr. Too Late, a major loser," lowers interest rates immediately.

Trump had previously called for the U.S. Fed to lower rates, even hinting at Powell's possible "termination."

The lack of progress on global trade after Trump announced his reciprocal tariffs earlier this month has also dented investor confidence.

Since Trump's announcement on April 2nd, the S&P 500 is down 9 percent, and both the Nasdaq and Dow Jones fell nearly 10 percent.

Lee Seung-jae, Arirang News.