US Stock Markets Rally Amid Trump’s Latest Remarks on Fed’s Powell, China

The president has ‘no intention’ of firing Federal Reserve Chair Jerome Powell and will not ‘play hardball’ with China, he said.

Traders work on the floor of the New York Stock Exchange in New York City on April 17, 2025. Spencer Platt/Getty Images

U.S. stocks surged on April 23, as President Donald Trump clarified his stance on Federal Reserve Chair Jerome Powell and China tariffs.

The Dow Jones Industrial Average, an index of blue-chip stocks, advanced by more than 900 points, or more than 2 percent.