Whatever hope investors mustered over the weekend that Treasury Secretary Scott Bessent had made progress in the White House‘s trade negotiations with Japan quickly dissipated as traders tuned into the president’s latest tirade on Truth Social.

“‘Preemptive Cuts’ in Interest Rates are being called for by many,” President Donald Trump wrote just minutes after Monday’s opening bell. “With [prices] trending so nicely downward, just what I predicted they would do, there can almost be no inflation, but there can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW. Europe has already ‘lowered’ seven times. Powell has always been ‘To Late,’ except when it came to the Election period when he lowered in order to help Sleepy Joe Biden, later Kamala, get elected. How did that work out?”