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Squawk on the Street

Market Sell-Off: Pres. Trump Ramps Up Attacks on Fed's Powell 4/21/25

Squawk on the Street

CNBC

Business, Investing, News

4.1567 Ratings

🗓️ 21 April 2025

⏱️ 44 minutes

🧾️ Download transcript

Summary

Carl Quintanilla, Jim Cramer and David Faber discussed the markets kicking off a new week in sell-off mode. The anchors reacted to President Trump attacking Jerome Powell in a new Truth Social post and calling the Fed Chair a "loser" for not cutting interest rates. Tariff uncertainty and recessions fears also weighing on investor sentiment and sending the U.S. dollar to three-year lows. Also in focus: Pope Francis dies at 88, Netflix rises on earnings, "Faber Report" on Elon Musk and xAI investors, analyst calls on Tesla, Disney and Salesforce. Squawk on the Street Disclaimer

Transcript

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0:00.0

Market moving insight and analysis join Jim Kramer, David Faber, and me, Carl Kintanilla, on the opening bell hour of CNBC Squawk on the Street. Good Monday morning. Welcome to Squawk on the Street. I'm Carl Kintanier with Jim Kramer, David Faber, post night of the New York Stock Exchange. Future starting out the week in the red as investors await word of any potential trade deal progress, a big week of industrial and tech earnings. Dollar index

0:21.9

below 98, even though the 10-year yield rises to 440. A roadmap begins with three negative

0:27.3

weeks and four. Investors remain skittish on tariffs and now fed independence.

0:31.9

Plus tech troubles. Tesla is among the biggest laggards. That's pre-market of course. Other

0:36.5

mega-cap tech names,

0:37.7

though, such as Apple and Vida, they're also under pressure this morning. And Alphabet's back in

0:43.1

court today with earnings on deck later this week. The Justice Department is set to make its case

0:48.2

to break the company apart. Just hours ago, the Vatican announcing that Pope Francis

0:53.9

has died at the age of 88, one day

0:56.2

after he delivered the Easter blessing on the balcony of St. Peter's Basilica and met with

1:01.0

Vice President Vance. We'll have more on the Pope throughout the morning. Eighty-eight years old,

1:06.8

of course, Jim suffered with the bout of bronchitis and doubled ammonia just a few weeks ago. I know. And I went to see him with my wife. It was kind of an historic day. We didn't expect you to have a prayer in the morning. And it was about how if you have someone who is gay in your family, you should not discriminate against them. And we were kind of shot. We didn't think that there was going to be anything that was just other than traditional. And I think it was kind of emblematic of

1:32.4

what you expected from the Pope. David, I don't know if you ever got to listen to him, but it's very

1:37.7

obviously he speaks in many languages. They speak, they translate on the spot. But you could expect

1:43.1

something quite different from what you expected when

1:45.5

you went to hear him. Yes, he was, well, certainly he was a man of peace. There's no doubt about that.

1:51.7

Yeah. And I think that he'll be missed. I saw that Vice President Vance was with him. Yes.

1:58.0

Yes. And he did appear, of course, at Easter Mass.

2:01.7

First non-European pontiff.

2:03.9

I had to check this since the year 741.

2:06.7

I know. By the way, you're sports fit.

2:09.5

And I don't know, we went to just because we heard that he was joyous and upbeat.

...

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