Why Alphabet Stock Is Sinking Today

Alphabet (NASDAQ: GOOGL)(NASDAQ: GOOG) stock is losing ground in Monday's trading. The company's share price was down 3% as of 3:15 p.m. ET amid a 3.2% decline for the S&P 500 and a 3.4% fall for the Nasdaq Composite.The stock market is selling off today after President Donald Trump made intensely critical remarks about Federal Reserve Chair Jerome Powell. Alphabet stock is getting caught up in the broader pullback amid investors' bearish reaction to the possibility that the Trump administration will try to fire Powell and exert more control over the Fed.Kevin Hassett, the director of the National Economic Council, said last Friday that the Trump administration was looking into whether it had the legal authority to fire Powell before the end of his term in 2026. Today, Trump described Powell as a "major loser" and called for preemptive interest rate cuts to energize the U.S. economy. The Federal Reserve is typically supposed to operate independently from the federal government, and investors are worried about uncertainty and potential fallout from shakeups at the central banking authority.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool