On Tuesday, the pound reached a seven-month high, briefly breaking $1.34 against the dollar, while gold prices soared past $3,500 per ounce. This market movement followed President Trump's criticism of Federal Reserve Chairman Jerome Powell's policies, triggering a sell-off in equities as investors sought safe-haven assets like gold. The S&P 500 and Dow Jones experienced sharp declines, reflecting investor anxiety regarding the Fed’s independence amidst mounting political pressure. Despite overall market losses, London's FTSE 100 managed to gain slightly, contrasting with declining European markets.
The broad sell-off was triggered by rising concerns over Fed independence, analysts at Deutsche Bank said. Yesterday's market moves were the clearest sign of investor anxiety.
Gold prices surged to a record high above $3,500 per ounce, indicative of investors' shifting preferences towards safe-haven assets amidst fears of US political interference.”},{
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