Why Newsmax Stock Is Plummeting Today
Newsmax (NYSE: NMAX) stock is getting hit with huge sell-offs in Monday's trading. The media company's share price was down 16.5% as of 3:30 p.m. ET. The S&P 500 was down 3.1% at the same point in the session.
Newsmax's valuation is falling rapidly in the face of surging bearish sentiment across the stock market. The stock had risen 11.6% across last week's trading, but today's sell-offs have now more than wiped out those gains.
President Donald Trump characterized Federal Reserve Chair Jerome Powell as a "major loser" today and called on the U.S. central bank to implement preemptive interest rate cuts in order to prevent the economy from slowing. The Trump administration is looking into whether it can oust Powell from his position as the central bank's leader before his term ends in 2026.
Source Fool.com
