Trump’s move to fire Federal Reserve governor rattles markets, as US dollar falls – business live

A global selloff in the markets has left investors uneasy about the dollar's reliability as a reserve currency. Despite some hopes regarding the Fed's strength, the overall sentiment remains negative.

Editor’s Note: This situation is significant as it highlights concerns over the stability of the dollar and the potential implications for global finance. Investors are reacting to fears that the dollar may not maintain its status, which could lead to broader economic consequences.

Donald Trump has announced the firing of Federal Reserve governor Lisa Cook, which has been criticized as an authoritarian move to gain control over the independent institution. This action has sparked outrage among top Democrats.

Editor’s Note: This situation is significant as it raises concerns about the independence of the Federal Reserve and the potential implications for economic policy. Trump's actions could undermine public trust in financial institutions and set a troubling precedent for political interference.

UK universities are facing a financial crisis, leading to staff layoffs and potential bankruptcies. This situation raises concerns about the future of higher education in the country.

Editor’s Note: This matters because the financial stability of universities affects not only the staff and students but also the broader educational landscape in the UK. Understanding the causes and solutions is crucial for maintaining quality education.

American Woodmark reported earnings that missed expectations by $0.32, and its revenue also fell short of estimates. This disappointing performance raises concerns about the company's financial health.

Editor’s Note: This matters because earnings reports are crucial indicators of a company's performance and can significantly impact investor confidence and stock prices. A miss in earnings and revenue can lead to a reevaluation of the company's future prospects.

Oil prices have dropped from a nearly three-week high due to concerns over Russian supply risks. This decline reflects ongoing volatility in the energy market.

Editor’s Note: The fluctuation in oil prices is significant as it impacts global economies, consumer costs, and energy policies. Understanding these trends helps stakeholders navigate the market effectively.