Market Rattled: Powell's Potential Firing Spooks Investors

U.S. stock markets saw a downturn on Wednesday following a Bloomberg News report suggesting President Donald Trump could soon dismiss Federal Reserve Chair Jerome Powell. Citing a White House official, the report stirred concerns among investors about monetary policy stability.

By late morning, the Dow Jones Industrial Average was down by 100.39 points, marking a 0.23% decrease to 43,922.90. Meanwhile, the S&P 500 dropped by 16.14 points, a 0.26% dip to 6,227.62, and the Nasdaq Composite fell 56.76 points, or 0.27%, landing at 20,621.04.

This market reaction underscores the broader anxieties investors have surrounding potential Fed policy changes and leadership shifts under the Trump administration, as uncertainty continues to loom over economic governance.

(With inputs from agencies.)