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Trump Slams Fed, OPEC in WEF Address; Markets React

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US President criticizes central bank policies and oil cartel, impacting global markets.

US President Donald Trump used a virtual speech at the World Economic Forum to criticize the Federal Reserve and OPEC, sparking a ripple effect through global markets. Trump demanded the Federal Reserve lower interest rates, arguing that current levels are stifling economic growth. He also urged OPEC to reduce oil prices, claiming that current high prices are hurting consumers. These aggressive pronouncements have already impacted stock markets, with technology stocks experiencing a slight dip following a recent surge. The uncertainty surrounding Trump’s pronouncements seems to be the primary cause of the market fluctuations.

Further escalating the tension, Trump threatened to impose tariffs on European Union goods if those nations don’t shift their manufacturing to the United States. This threat has added another layer of complexity to already fragile global trade relationships. The reactions from various sectors of the market have been mixed. Healthcare insurer Elevance and video game publisher Electronic Arts have experienced fluctuating share prices, while shares in Myer trade ex-dividend. Analysts are currently studying the long-term implications of these comments on the global economy and the various stock markets.

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