Trump slams Fed and defends tariffs as markets sink

President Donald Trump on Wednesday bashed the Federal Reserve over interest-rate policy and defended tariffs, as U.S. stocks fell across the board. In a pair of tweets, Trump said the Fed was "very, very late" in cutting interest rates, repeating his steady criticism of the central bank. He also approvingly quoted a Fox Business News host who said tariffs hadn't hurt the economy, and added "And we are taking in $Billions!" The Dow Jones Industrial Average fell more than 600 points after a series of worrying data on global economic growth, and after the yield on the 10-year U.S. Treasury note fell below that of the 2-year note.

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