On Tuesday, US Wall Street stocks suffered heavy losses after a balanced movement yesterday.
All three major indexes fell after US President Donald Trump repeated his threat to fire Federal Reserve (Fed) Chairman Jerome Powell, claiming Powell's late 2024 interest rate cut was politically motivated.
The S&P 500 index fell 2.36%, the Dow Jones fell 2.48% while the tech-focused Nasdaq fell 2.55%.
In addition, the fall in major indexes was driven by the China-US tariff war, which intensified after Beijing warned other countries not to make any deals with the US.
The situation between Trump and Powell has raised concerns about the Fed's independence in setting monetary policy and the outlook for US assets.
However, Trump's actions to implement tariffs have affected US and global financial markets.
The push for Powell's resignation has also raised investor concerns about the autonomy of the current central bank.
