U.S. stocks suffered a sharp selloff Monday, erasing over $1 trillion in market value as investors reacted to renewed pressure on the Federal Reserve from President Donald Trump. Fundstrat’s Tom Lee compared the day’s loss to the entire annual U.S. trade deficit, urging the White House to finalize trade deals swiftly. Trump criticized Fed Chair Jerome Powell as “Mr. Too Late” and called for immediate rate cuts, claiming “virtually no inflation.” Nearly 98% of S&P 500 stocks traded lower.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02U.S. stocks suffered a sharp sell-off Monday,
00:04raising over $1 trillion in market value
00:06as investors reacted to renewed pressure
00:08on the Federal Reserve for President Donald Trump.
00:11Fundstrat's Tom Lee compared the day's loss
00:13to the entire annual U.S. trade deficit,
00:16urging the White House to finalize trade deals swiftly.
00:19Trump criticized Fed Chair Jerome Powell
00:20as Mr. Too Late and called for immediate rate cuts,
00:24claiming there is virtually no inflation.
00:26Nearly 90% of S&P 500 stocks traded lower.
00:28For all things money, visit Benzinga.com slash GSTV.