Market Rollercoaster: Fed Chair Speculation Shakes Wall Street

Wall Street experienced a turbulent session on Wednesday following reports that U.S. President Donald Trump might dismiss Federal Reserve Chair Jerome Powell. The market reacted swiftly, with stock indexes falling sharply before recovering later in the day.

President Trump quickly denied the reports, though he continued to criticize Powell for not cutting interest rates. This denial helped calm the markets, leading to a modest rebound in equity indices.

Investors remain concerned about economic conditions as differing inflation indicators contribute to uncertainty. The stock market's volatility highlights the ongoing tension between the Trump administration and the Federal Reserve.

(With inputs from agencies.)