Oil prices decreased to $106, and the S&P 500 index closed down 0.34%. Futures rose 0.95% after Fed chair Jerome Powell's remarks suggested caution regarding interest rate hikes. Stocks experienced their worst quarter in four years, while crypto emerged as a surprisingly strong asset compared to gold. Citadel's CEO Ken Griffin is building a significant tower in Miami and has criticized Trump's influence on business leaders, despite supporting some of his policies.
"The implication is that the Fed may not automatically want to raise interest rates to squeeze out oil-fuelled inflation-and stock buyers love low rates."
"The worst asset was gold, which lost 15% of its value after an unsustainable run-up."
"Griffin feels the regime of tariffs 'encourages crony capitalism,' and 'CEOs have to stomach going to D.C. and sucking up to one administration.'"
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