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Policymakers in coming months may face difficulty meeting their dual mandate to ensure stable prices and maximum employment, Federal Reserve Chair Jerome Powell said.

U.S. equities plunged again on trade war fears as China retaliated against U.S. tariffs.

President Trump said in a social media post that his policies "will never change" as stocks continued to tank on his recent tariff escalation.

The precious metal initially rallied after Trump unveiled reciprocal tariffs, but has since joined the wider market sell-off.

The Trump administration’s expansive new tariffs will likely lead to higher inflation and slower growth for the U.S. economy, Federal Reserve Chair Jerome Powell said Friday. Powell said that the tariffs, and their likely impacts on the economy and inflation, are “significantly larger than expected.” “Our obligation is to ... make certain that a one-time increase in the price level does not become an ongoing inflation problem,” Powell said in remarks delivered to a conference of the Society for Advancing Business Editing and Writing.

In March, the U.S. added 228,000 jobs even as Elon Musk's DOGE slashed 4,000 jobs in the federal government sector. Bitcoin didn't react strongly to the data.

The decision would complicate an uneven recovery for the U.S. IPO market, as the company's listing was seen as a potential catalyst for encouraging others to follow. Klarna could reassess its plans if market conditions stabilize, the people said. While hopes of a recovery were high in 2025, some of the new entrants to the IPO market have seen muted receptions.