Monday brought some selling pressure to Wall Street, with U.S. stocks opening lower across the board. The Dow Jones declined 0.61% to 49,202.71, shedding more than 250 points in morning trading. The NASDAQ fell 0.10% to 23,647.92, while the S&P 500 dropped 0.21% to 6,951.34.
Markets Slide as Dow Drops 250 Points Amid Fed Drama

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Fed Chair Powell Faces DOJ Threat
The headline grabbing everyone's attention: Federal Reserve Chair Jerome Powell disclosed Sunday that the Department of Justice had threatened the central bank with "criminal indictment" over his testimony before Congress regarding building renovation costs. This represents a significant escalation in tensions between President Donald Trump and the central bank, adding another layer of uncertainty to an already complex market environment.
Sector Scorecard
Financial stocks took the hardest hit, dipping 1% during Monday's session to lead sector losses. On the flip side, consumer staples provided a bright spot, gaining 0.6% as investors sought defensive positions.
Notable Movers
Some individual stocks posted dramatic moves. Envirotech Vehicles Inc (EVTV) shot up 155% to $1.18, leading the gainers. Ping An Biomedical Co Ltd (PASW) surged 45% to $0.29 after dropping 68% on Friday, while Sound Group Inc - ADR (SOGP) also climbed 45% to $17.00.
On the downside, Atara Biotherapeutics Inc (ATRA) plummeted 54% to $6.24 after receiving an FDA Complete Response Letter for EBVALLO BLA, citing clinical trial adequacy concerns. Lyra Therapeutics Inc (LYRA) dropped 51% to $1.83 following its announcement to suspend development of LYR-210, its lead product candidate for chronic rhinosinusitis, and implement a workforce reduction affecting all 28 remaining employees. NovaBay Pharmaceuticals Inc (NBY) fell 29% to $13.69.
Commodities Show Strength
While equities stumbled, precious metals rallied hard. Gold jumped 2.3% to $4,605.90, and silver surged 6.5% to $84.485, suggesting investors were seeking safe-haven assets. Copper rose 1% to $5.9605, while oil edged down 0.3% to $58.95.
Global Markets
European markets finished modestly higher, with the eurozone's STOXX 600 gaining 0.1%. London's FTSE 100 rose 0.1%, Germany's DAX climbed 0.4%, and France's CAC 40 added 0.1%. Spain's IBEX 35 Index was the outlier, slipping 0.1%.
Asian markets closed in positive territory, with Hong Kong's Hang Seng Index advancing 1.44%, China's Shanghai Composite rising 1.09%, and India's BSE Sensex gaining 0.36%.
Economic Calendar
No major economic reports were scheduled for release Monday, leaving traders to digest the weekend's Fed news and position for the week ahead.
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