A trader works on the floor at the New York Stock Exchange in New York City, U.S., April 21, 2025.
Brendan McDermid | Reuters
Stock futures edged lower on Monday night following a rough day on Wall Street, as President Donald Trump’s latest criticism of Federal Reserve Chair Jerome Powell drove up uncertainty.
Futures tied to the Dow Jones Industrial Average lost 75 points, or 0.2%. S&P 500 futures and Nasdaq 100 futures also both pulled back by 0.2%.
Monday night’s action comes on the heels of a sharp sell-off. The Dow dropped more than 970 points in the regular session, while the S&P 500 and Nasdaq Composite both slid more than 2%. Monday marked the fourth straight losing session for the Dow and Nasdaq.
Investors grew increasingly uncertain after Trump posted on Truth Social that the economy would slow if the Fed did not cut interest rates. In the latest of multiple recent posts calling out Powell by name, he called the Fed chief “Mr. Too Late” and a “major loser.”
Trump hinted at Powell’s “termination” last week, an unprecedented action that White House economic advisor Kevin Hassett said the president’s team was currently studying. Powell has said that he cannot be fired under law and intends to serve through the end of his term in May 2026.
Monday’s steep sell-off comes amid a turbulent period for stocks since Trump’s initial announcement of “reciprocal” tariffs rocked financial markets. The three major indexes have all tumbled more than 9% since Trump first unveiled his plan for levies on April 2.
“There’s just so much uncertainty right now with the tariff cycle and with the economy,” said Larry Tentarelli, founder of the Blue Chip Daily Trend Report. “Adding one more layer of uncertainty with Jerome Powell just adds more volatility to the markets overall.”
Investors will watch Tuesday morning for manufacturing survey results from the Richmond Fed. Several Fed officials including Fed Vice Chair Philip Jefferson, Minneapolis Fed President Neel Kashkari and Fed Gov. Adriana Kugler are expected to give speeches throughout the day.
On the earnings front, Lockheed Martin reports before the bell. Traders will then turn attention to Tesla‘s closely followed quarterly financial release expected after the market closes.
See the stocks moving after hours
These are some of the stocks making notable moves after hours on Monday:
- BOK Financial — The Oklahoma bank’s shares slid 3% after earnings per share for the first quarter missed Wall Street expectations. BOK earned $1.86 per share, while the consensus estimate of analysts polled by FactSet came in at $1.99 a share.
- Calix — The technology services stock jumped 14% on better-than-anticipated earnings for the first quarter and upbeat current-quarter guidance.
- MongoDB — Shares retreated 2% after the developer data platform said Srdjan Tanjga was resigning as interim CFO, effective May 8.
— Alex Harring
Futures tied to the Dow, S&P 500 and Nasdaq 100 all traded near flat shortly after 6 p.m. ET Monday night.
— Alex Harring
