{"id":51367,"date":"2025-08-01T16:08:21","date_gmt":"2025-08-01T20:08:21","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/markets-tumble-as-fed-governor-resigns-amid-trumps-rigged-jobs-claims\/51367\/"},"modified":"2025-08-01T16:08:21","modified_gmt":"2025-08-01T20:08:21","slug":"markets-tumble-as-fed-governor-resigns-amid-trumps-rigged-jobs-claims","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/markets-tumble-as-fed-governor-resigns-amid-trumps-rigged-jobs-claims\/51367\/","title":{"rendered":"Markets Tumble as Fed Governor Resigns Amid Trump&#8217;s &#8216;Rigged&#8217; Jobs Claims"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Major U.S. stock indices closed significantly lower<\/strong> on Friday, August 1, 2025, with the <strong><a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average<\/strong> falling <strong>556.09 points (1.26%)<\/strong> to <strong>43,574.89<\/strong>, the <strong><a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a><\/strong> dropping <strong>102.61 points (1.62%)<\/strong> to <strong>6,236.78<\/strong>, and the <strong>Nasdaq<\/strong> declining <strong>455.01 points (2.15%)<\/strong> to <strong>20,667.44<\/strong>.<\/li>\n<li><strong>Federal Reserve Governor Adriana Kugler announced her resignation<\/strong>, effective August 8, 2025, to return to Georgetown University. This news contributed to a further drop in <strong>U.S. Treasury yields<\/strong>, with the <strong>10-year Treasury yield decreasing by 14.6 basis points to 4.214%<\/strong>.<\/li>\n<li>Former President <strong>Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a><\/strong> made multiple unsubstantiated claims that recent jobs numbers were &quot;rigged&quot; and a &quot;total scam,&quot; asserting they were designed to make him &quot;look bad.&quot; He also criticized <strong>Fed Chair Powell<\/strong>, stating he was &quot;no better&quot; than the &quot;rigged&quot; jobs numbers.<\/li>\n<li>Traders have <strong>increased their expectations<\/strong> of the Federal Reserve cutting interest rates in September.<\/li>\n<\/ul>\n<p>U.S. stock markets experienced a notable downturn on Friday, August 1, 2025, as major indices recorded significant losses at the unofficial close. The <strong>Dow Jones Industrial Average<\/strong> concluded the day down <strong>556.09 points<\/strong>, or <strong>1.26 percent<\/strong>, settling at <strong>43,574.89<\/strong>. Similarly, the <strong>S&amp;P 500<\/strong> fell <strong>102.61 points<\/strong>, a <strong>1.62 percent<\/strong> decline, to <strong>6,236.78<\/strong>, while the <strong>Nasdaq<\/strong> saw the steepest percentage drop, losing <strong>455.01 points<\/strong>, or <strong>2.15 percent<\/strong>, to close at <strong>20,667.44<\/strong>.<\/p>\n<p>Adding to the market&#39;s unease, Federal Reserve Governor <strong>Adriana Kugler<\/strong> submitted her resignation to former President <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>, effective August 8, 2025. Kugler intends to return to Georgetown University this fall. This announcement prompted a further decline in <strong>U.S. Treasury yields<\/strong>, with the <strong>10-year Treasury yield<\/strong> dropping <strong>14.6 basis points<\/strong> to <strong>4.214%<\/strong>.<\/p>\n<p>Amidst these market movements, former President <strong>Donald Trump<\/strong> made several claims without offering evidence, asserting that the recent jobs numbers were &quot;rigged&quot; and a &quot;total scam.&quot; He specifically stated that &quot;today\u2019s jobs numbers were rigged to make me look bad&quot; and criticized <strong>Fed Chair Powell<\/strong>, claiming Powell was &quot;no better&quot; than the &quot;rigged&quot; figures.<\/p>\n<p>Despite the day&#39;s market performance, speculative traders have reduced their short bets against the dollar to the lowest level since April. Concurrently, market participants are increasingly anticipating that the Federal Reserve will implement an interest rate cut in September.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Major U.S. stock indices closed significantly lower on Friday, August 1, 2025, with the Dow Jones Industrial Average [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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