Noon Market Summary: Silver Plummets 13.8% as Fed Governor Calls for Rate Cuts; Trump Nominates Warsh for Fed Chair

The U.S. market opened with a mixed tone at noon, as major indexes slipped amid sharp declines in commodities and sector divergence. The Dow Jones Industrial Average fell 282 points (-0.579%) to 48,787.43, the S&P 500 dipped 22.2 points (-0.321%) to 6,946.66, and the Nasdaq Composite lost 97.3 points (-0.412%) to 23,587.54. Commodities saw brutal declines: Comex Silver futures collapsed 13.768% to $98.675, gold dropped 5.087% to $5,082.4, and copper fell 3.079% to $6.0125. Sectors were split, with Materials (-3.15%) and Energy (-0.20%) leading losses, while Consumer Discretionary (+0.38%) and Communication Services (+0.23%) held firm. The session underscored a fragile risk-off mood driven by Fed uncertainty and geopolitical tensions.

Hot Stocks

Tech Giants:

• Tesla(TSLA): +5.35%
• Nvidia(NVDA): +0.71%
• Apple(AAPL): -1.24%
• Microsoft(MSFT): -0.21%
• Meta(META): -2.54%

Other Movers:

• Charter(CHTR): +11.57%
• Verizon(VZ): +8.61%
• Lumentum(LITE): +8.12%
• cbdMD(YCBD): +30.99%
• Fat Brands(FAT): +61.12%
• Elong Power(ELPW): +260.38%
• TechCreate(TCGL): +195.04%

Macro & Corporate Narrative

1. Fed Governor Waller Pushes for Rate Cuts

Federal Reserve Governor Christopher Waller argued that "monetary policy remains restrictive" and called for further rate cuts to address a "fragile" labor market. His dissent from the Fed’s rate-hold decision heightened speculation about future easing, weighing on bond yields and boosting gold before the metal’s sharp reversal.

2. Trump Nominates Kevin Warsh for Fed Chair

President Trump’s nomination of hawkish former Fed governor Kevin Warsh triggered market volatility. Warsh, known for prioritizing inflation control, faces Senate hurdles due to an ongoing DOJ probe into current Chair Jerome Powell. The move signals a potential shift toward tighter monetary policy, with crypto markets reacting sharply—Bitcoin ETFs lost $1B in a single session as investors braced for higher rates.

3. Silver and Gold Collapse: A $120M Crypto Liquidation

Silver’s 13.768% plunge—the worst one-day drop since 2008—sparked a $120M liquidation in tokenized metals. Gold fell 5.087% to $5,082.4, while copper dropped 3.079%, reflecting a flight to safety amid dollar strength and Fed uncertainty. The selloff exposed leveraged positions in crypto-linked commodities, with XAU and XAUT tokens falling over 7%.

4. Trump’s Trade War Escalation: Bombardier Shares Drop 9%

President Trump’s threats to impose 50% tariffs on Canadian aircraft and decertify Bombardier’s planes triggered a 9% plunge in the company’s shares. The move, framed as retaliation for trade tensions, disrupted U.S. carriers reliant on Canadian aircraft and highlighted the fragility of transatlantic trade relations.

5. Crypto Policy Breakthrough: $100B 401(k) Potential Unlocked

Regulators advanced "Project Crypto," a coordinated SEC-CFTC effort to allow crypto in 401(k)s and expand prediction markets. The Senate Agriculture Committee passed a crypto market structure bill (12-11), signaling regulatory clarity that could unlock $100–200B in retirement crypto demand and redirect offshore trading to U.S. markets.

6. Trump’s War with Wall Street Intensifies

Trump’s lawsuit against JPMorgan Chase CEO Jamie Dimon over alleged account closures marked a new front in his war with Wall Street. The legal action, coupled with demands to cap credit card rates, reflects broader political tensions as the president seeks to rally support amid economic approval dips.