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President Donald Trump set off a precipitous dive in financial markets Friday after he ripped Federal Reserve chair Jerome Powell, ordered U.S. companies to pull back from China, and called the world's No. 2 economy the 'enemy.'
By the end of trading after a hectic day where the president once again used twitter to lash out at his foes amid economic uncertainty, the Dow Jones Industrial Average was 621, or 2.4 per cent.
Trump tore into Powell after the Fed Chair refused to provide a clear signal he will bend to Trump's demand for rate cuts – comparing him to China's President Xi Jinping, his chief economic and political rival who heads a country Trump describes as committed to 'ripping off' the United States.