Market Sell-Off: Pres. Trump Ramps Up Attacks on Fed's Powell 4/21/25

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Carl Quintanilla (1:02)

Market moving insight and analysis. Join Jim Cramer, David Faber, and me, Carl Quintanilla on the opening bell hour of CNBC Squawk on the Street.

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Good Monday morning.

Carl Quintanilla (1:11)

Welcome to Squawk on the Street. I'm Carl Quintanilla with Jim Cramer, David Faber, at post night of the New York Stock Exchange. Futures starting out the week in the red as investors await word of any potential trade deal progress. A big week of industrial and tech earnings. Dollar index below 98, even though the 10-year yield rises to 440 A roadmap begins with three negative weeks and four. Investors remain skittish on tariffs and now Fed independence.

David Faber (1:34)

Plus tech troubles. Tesla is among the biggest laggards. That's pre-market, of course. Other mega cap tech names, though, such as Apple and NVIDIA Meta, they're also under pressure this morning. And Alphabet's back in court today. With earnings on deck later this week, the Justice Department is set to make its case to break the company apart.

Carl Quintanilla (1:53)

Just hours ago, the Vatican announcing that Pope Francis has died at the age of 88, one day after he delivered the Easter blessing on the balcony of St. Peter's Basilica and met with Vice President Vance. We'll have more on the Pope throughout the morning. 88 years old, of course, Jim suffered with the bout of bronchitis and double pneumonia just a few weeks ago.

Jim Cramer (2:14)

I know. When I went to see him with my wife, it was kind of an historic day. We didn't expect you to have a prayer in the morning. And it was about how if you have someone who is gay in your family, you should not discriminate against them. We were kind of shocked. We didn't think that there was going to be anything that was just other than traditional. And I think it was kind of emblematic of what you expected from the Pope. David, I don't know if you ever got to listen to him, but it's very obviously speaks in many languages.

They translate it on the spot. But you could expect something quite different from what you expected when you went to hear him.

David Faber (2:48)

Yes, he was, well, certainly he was a man of peace. There's no doubt about that.

Jim Cramer (2:55)

And I think that he'll be missed. I saw that Vice President Vance was with him.

Carl Quintanilla (2:59)

Yes, yes, and he did appear, of course, at Easter Mass. First non-European pontiff. I had to check this since the year 741

Jim Cramer (3:08)

I know, but by the way, you're sports fit.

And I don't know, we went to just, because we heard that he was joyous and upbeat, and we got that. I mean, he was, I mean, he was funny and joyous, and you were sitting there thinking, well, this is such a learning experience, and I don't know, we've thought about it a lot, and we thought that maybe this was going to be the beginning of a kind of a brand new open-minded pope. And I was, we had just seen him. We went soon after the conclave.

Carl Quintanilla (3:41)

We'll get a moment of silence in honor of the pope in a few minutes here at the NYSC. Meantime, here in the US, markets on track for a lower open today after that holiday-shortened trading week, Jim. There's a lot going on, and certainly not a big macro week, but a ton of earnings headed our way.