tariffs, these latest back and forths is making that goal even more elusive, brooke. back here at home, the mood is pretty awkward in jackson hole, wyoming that s where jerome poe el is speaking on the same day the president of the united states questioned if powell or the president of china was the nation s biggest enemy. president trump handpicked powell to run the fed. saying, he had the wisdom and leadership to steer the economy through any crisis. alison kossic is tracking the reaction at the stock change. what are the details on jay powell s speech today, and how are investors reacting in. you re seeing investors really reacting to president trump s tweets as a whole what i
the economy is going. as for the selloff we re seeing right now, we re seeing the dow down 496 points, a big part of that is because of the wild card that president trump threw into the mix. the response to retaliatory tariffs this afternoon. it is a wild card, it s uncertainty. and investors as you know do not like uncertainty, it s part of the reason you re seeing the selloff right now. another reason we re seeing the inverted yield curve, that term again coming up again. multiple times. there s less faith in the economy in the short term than the long term. we wait for that wild card announcement, tweet, what have you. alison, thank you so much. lindsay, nice to talk to you, as best you can, if you re china, you do what they ve done, what
it s not an actual fed meeting where decisions are historically made, the expectation that a rate cut or some sort of decision was supposed to happen is really unrealistic, and for the president to go ahead and lash out against jay powell was really out of line, what many investors have told me. usually when you see a fed chief make a rate decision outside of a regular feds meeting, it s for an emergency. the last time i looked, it s not in any kind of economic emergency. the last meeting for the fed is september 17th and 18th, while there are expectations the fed could go ahead and cut rates again. jay powell didn t give any indication that that would happen. he did acknowledge that in the three weeks since powell did have that rate cut happen, he has seen more turbulence in the economy. brooke? alison, thank you very much. liz ann saunders, the chief
this year. abby phillip at the white house, thank you very much. we ll stand by for that response from the white house on the markets. back here at home, jerome powell is speaking at an annual forum on the same day. the president of the united states questioned whether powell or the president of china was the nation s biggest enemy. alison kossic is tracking the action down at the new york stock exchange. you tell me, what are the det l details on powell s speech today and how are investors reacting? they re not reacting well. those tweets are stirring up the selloff you re seeing right now. they re close to session lows, you saw investors pay attention to all the tweets that president trump made today both on china and as he sort of pulverized jay powell right there on twitter saying as usual the fed did nothing. but here s the thing. the fed meaning the fed members, the fed chief.
from the house intelligence community. look at this. the dow jones industrials in new york now, down 566 points. the biggest drop since the president took office. let s go to cnn s alison kossic in new york for us. it looks like it will be the worst week for the dow since the president took office. it looks like the dow is on track to have its worst point loss since swrun of 2016, when we saw the dow drop about 600 points when brexit was happening. you re kind of seeing a continuation of what began earlier this week. see saw these jitters begin monday, tuesday. we saw between the two days the dow drop 500 points t recovered a bit. now you re seeing the dow down 548 points because those swriters have been amplified with the jobs report that came out this morning. january jobs report came out good, 200,000 jobs were created in the month of january,