FX.co ★ US Futures Steady After Sharp Selloff

US stock futures remained stable on Tuesday following a significant downturn in the previous session, spurred by ongoing concerns regarding the Federal Reserve's independence. In Monday's trading, the Dow declined by 0.48%, the S&P 500 fell by 2.36%, and the Nasdaq decreased by 2.55%. All 11 sectors of the S&P were down, with the consumer discretionary, technology, and energy sectors experiencing the most substantial declines. Major tech stocks suffered, with Nvidia decreasing by 4.5%, Tesla by 5.8%, and Amazon by 3.1%. This downturn came in the wake of President Donald Trump's criticism of Federal Reserve Chair Jerome Powell, whom he labeled as “Mr. Too Late, a major loser,” while demanding prompt interest rate reductions. Trump also suggested the potential removal of Powell, raising worries about the central bank's independence. Additionally, ongoing trade tensions with China continued to weigh on market sentiment, with negotiations showing minimal progress. Investors are now turning their attention to a new set of earnings reports on Tuesday, with Tesla's quarterly results taking center stage.