Powell Industries shares fall 4.26% premarket as Fed holds rates steady, Trump criticizes Powell.

Powell Industries, Inc. fell 4.26% in premarket trading. The decline comes amidst a backdrop of mixed U.S. equity indexes and ongoing tensions between President Trump and Federal Reserve Chair Jerome Powell over interest rate policies. Powell's recent statements suggest that rate cuts are unlikely as long as unemployment remains low, which could be weighing on investor sentiment. Additionally, recent economic data showing inflation picking up in June may be contributing to the stock's decline.