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US markets fluctuate over Trump's federal chief firing speculation
President Trump floated the idea of firing Federal Reserve Chair Jerome Powell, making Wall Street nervous on July 15-16.
He later indicated that Powell's job is safe unless fraud surfaces in a $2.5 billion Fed renovation.
Why Trump's threat is a big deal
The Fed is supposed to be independent from politics—Trump's threat raised worries about market stability and whether the central bank can do its job without interference.
Even GOP lawmakers urged caution.
Stocks bounce back but investors remain wary
Stocks dipped at first but quickly bounced back: the S&P 500 ended up 0.3%, Dow gained 0.5%, and Nasdaq rose 0.3%.
Solid earnings from Johnson & Johnson and PNC Financial helped calm nerves, but companies like ASML took a hit over tariff concerns, showing investors are still wary when politics mix with business.