Stocks moved sideways on Thursday, and the dollar’s rebound lost momentum as investors struggled to navigate the uncertainty stemming from the Trump administration’s shifting positions on tariffs and the leadership of the Federal Reserve.
Earlier in the week, President Donald Trump launched criticisms at Fed Chairman Jerome Powell, only to later backtrack on calls for his resignation. Meanwhile, despite a flurry of headlines, there was still no clear direction on U.S. tariffs against China, leaving markets in a state of confusion.
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