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The dollar weakened near a three-year low as President Trump's criticism of Fed Chair Powell undermined investor confidence. Concerns arose about potential actions to replace Powell, triggering fears of a dollar panic. Escalating trade tensions with China further fueled economic anxiety, contributing to the dollar's decline against major currencies like the euro and Swiss franc.
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An index of Asian shares retreated while equity futures for US stocks rose slightly, indicating shares may bounce back after the S&P 500 fell more than 2% Monday. A gauge of the greenback steadied in early trading, after weakening to a 15-month low. Gold jumped to another record on haven demand.
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News and Media
The NSE's Nifty Bank index surged 1.9% on Monday, boosting the gauge to record highs, scaling the highs last made on September 26. The broader NSE Nifty surged 1.15% to 24,125.55 points while the BSE Sensex was up 1.09% to 79,408.50 points.
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News and Media
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