Trump’s Fed Criticism,Trade tensions Weigh on‌ Markets

NEW YORK ‍(AP) — Renewed criticism of Federal Reserve​ Chairman Jerome Powell by then-President Donald‌ Trump triggered market unease Monday,contributing ⁤to declines in​ major indices and the dollar’s value.⁤ the broad-based ⁤S&P 500 index fell 2.36%. The Dow Jones Industrial Average, on pace ‍for its worst April performance since 1932, shed⁢ 2.48%, while ‌the⁣ tech-heavy‍ Nasdaq Composite declined by ​2.55%. gold prices surged, reaching a record high of over $3,400 per ounce.

Aerospace Sector Feels Impact of US-China Trade Dispute

The⁢ ongoing trade friction between the United States and China has extended into the aerospace industry.reuters reported‍ that China has identified⁤ at least two Boeing 737 Max ⁢aircraft,destined for Xiamen Airlines,with issues at Boeing’s ​Seattle-area facilities.

A Xiamen Airlines ​spokesperson confirmed ‍the report. The aircraft were ​reportedly located ⁤at finishing centers‌ in ⁣Zhoushan. Analysts suggest China’s actions ‍are ‍a⁢ calculated move to exert pressure ⁢on Washington, targeting a⁢ key American economic player with‍ significant order backlogs⁤ from Chinese airlines. These orders, even with discounts, are valued at more than $11 billion.