U.S. Senator: If Powell Is Fired by Trump, It Will Trigger a Market Collapse

U.S. stocks closed on Tuesday: The Dow Jones Industrial Average initially finished down 0.35%, the S&P 500 slipped 0.02%, and the Nasdaq fell 0.15%. SK Hynix (SKHY.O) and Micron Technology (MU.O) both dropped over 3%; Meta Platforms (META.O) rose more than 2%; SpaceX (SPCX.O) declined 4%; Oracle (ORCL.N) gained 4%; Citigroup (C.N) fell over 5%. For crypto-related concept stocks: MicroStrategy (MSTR) slipped 0.33%; Coinbase (COIN) climbed 0.78%; CRCL added 0.51%; SBET dropped 0.94%; BMNR declined 1.43%; Robinhood Markets (HOOD) rose 1.19%; and HYPE Treasury (PURR) fell 1.63%.

According to Bitget market data, Japanese and South Korean stock markets opened higher across the board. The Nikkei 225 index opened 0.24% higher at 67,942.23 points, while the Korea Composite Index (KOSPI) gained 0.44% at opening to 6,062.08 points.

Bloomberg ETF analyst James Seyffart has disclosed that BlackRock’s Bitcoin ETF launch nearly aborted on multiple occasions. While internal executives had already begun preparations for the ETF’s rollout, CEO Larry Fink remained skeptical of Bitcoin. The project weathered multiple challenges including internal board disputes and the FTX collapse, facing near-cancellation risks several times. Now, BlackRock operates the world’s largest spot Bitcoin ETF.

New York Fed President Williams stated that one more interest rate hike this year is appropriate, but if the economic outlook unfolds as expected, no further hikes may be needed in 2027. He noted that he supports the September rate hike decision, citing key factors including rising energy prices and increased AI infrastructure investment. Williams explained that the Middle East conflict has pushed up energy prices, which are feeding into core inflation via sectors such as transportation and food; meanwhile, demand for data centers and chips driven by AI development is raising costs for some goods and impacting labor costs in the construction sector. He added that while tariffs, energy prices, and AI demand have pushed inflation higher than this year’s forecasts, inflation expectations remain stable, core inflation metrics continue to decline, and he expects inflation to fall significantly next year, approaching the 2% target. Williams said AI demand is growing at a large scale, outstripping supply in the short term, but as chip production capacity increases and productivity improves, supply conditions may ease in the future, acting as a disinflationary force. When discussing the rise in U.S. Treasury yields, Williams noted that long-term yields are influenced by multiple factors including bond supply and demand, AI investment, fiscal policy, and energy prices, rather than just monetary policy.

According to Israel’s Channel 12 TV, Israeli Prime Minister Benjamin Netanyahu has held multiple recent calls with US President Donald Trump, discussing the possibility of launching a large-scale joint military strike on Iran ahead of Israel’s October 27 parliamentary election and the US’s November 3 midterm elections. Citing sources familiar with the discussions, the report notes Netanyahu is pushing for joint US-Israeli military action, citing Iran’s “concerning new nuclear initiatives” as justification. Senior US government officials disclosed Trump has ordered relevant US and Israeli agencies to “advance and prepare” for such action, but the US has not yet made any substantive commitments to Israel. Trump previously publicly stated he would not attack Iran before the midterms. The report adds that both nations have internal divisions over resuming joint strikes on Iran. Currently, mediation parties including Qatar are awaiting Iran’s response to the latest US negotiation proposal.

Crypto hardware wallet manufacturer Ledger has requested distributors in Indonesia, Singapore, Thailand, the Philippines, Vietnam, Malaysia, and Hong Kong to suspend sales and remove related devices from shelves, as it investigates suspected tampering with its hardware wallets. Ledger said on Tuesday that confirmed incidents remain limited to Southeast Asia, and no cases of crypto asset theft linked to devices purchased in other regions have been verified. The investigation focuses on identifying who tampered with the devices and at which point in the distribution chain the issue arose. This sales suspension expands on Ledger’s earlier measures to halt sales and shipments targeting distributor CryptoBilis. The probe was made public on October 9, after users reported crypto asset theft linked to Ledger devices bought via the distributor. Since then, users in regions including Europe have also reported suspected tampering signs in devices purchased through retail channels. Ledger emphasized there is currently no evidence indicating its infrastructure, systems, services, or official direct sales channels have been compromised.