Kevin Granville and Danielle Kaye
Kevin Granville reported from Seoul, and Danielle Kaye from New York.
U.S. stock markets, which reopened Monday after the Good Friday holiday, were lower in early trading. The sell-off gained steam after Mr. Trump again targeted Jerome H. Powell, the Fed chair, in a social media post, calling on him to lower interest rates and shifting blame for any economic slowdown to the central bank. The S&P 500 fell more than 2 percent, while the technology-heavy Nasdaq Composite index was down roughly 2.6 percent.
U.S. government bonds, which have emerged as a major concern for Wall Street and the White House, showed renewed stress, with the 10-year Treasury yield at one point jumping above 4.4 percent. (Yields move inversely to prices.) Gold surged to another record, as investors sought out assets not tied to the U.S. dollar.
In Asia, the Nikkei 225, Japan’s benchmark stock index, fell 1.3 percent and stocks in Taiwan fell 1.5 percent. Many markets, including those in Hong Kong, Australia and much of Europe, remained closed on Monday for Easter holidays.
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