Stock market today: Dow drops 2.48%, S&P 500 slides 2.36%, and Nasdaq tumbles 2.55% amid tech sell-off and Fed turmoil.

On a turbulent trading day, the Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite all took significant hits, reflecting a broader sense of unease across Wall Street. The Dow Jones Industrial Average (^DJI) registered a sharp decline of -2.48%, while the S&P 500 (^GSPC) also faced a setback, closing lower by -2.36%. The Nasdaq Composite (^IXIC) was the hardest hit, sliding by -2.55% as tech stocks faced pressure amidst economic and political turmoil.

The market's fragile state was exacerbated by renewed tensions between the Trump administration and the Federal Reserve. President Donald Trump's pointed criticism of Fed Chairman Jerome Powell, whom he labeled a "major loser," added to the uncertainty clouding the financial landscape. This intensified rhetoric called into question the Fed's independence, further unsettling investors already jittery from global trade tensions.

Meanwhile, the geopolitical backdrop did little to soothe investors. The looming specter of escalating tariffs continued to be a cause for concern. President Trump's policies have injected volatility into the markets, with investors oscillating between apprehension over the economic impact of these tariffs and the potential for retaliatory measures from trade partners.

As the threat of a recession loomed larger, the response from different markets was telling. The U.S. dollar weakened to a three-year low amid these tensions, while long-term bonds also experienced selling pressure. The downturn mirrored the challenges that the U.S. economy faces under the dual strains of domestic policy shifts and international trade uncertainties.

Wall Street's woes were compounded by a widespread sell-off in technology stocks, which form the backbone of the Nasdaq. The market was on edge ahead of Big Tech earnings reports, which analysts suggest could be pivotal in determining the next phase for the sector. This anticipation added another layer of uncertainty, as investors await to see if these giants can withstand the broader economic headwinds.

Despite the overarching gloom, some investors and strategists attempt to navigate the unpredictability with cautious optimism. As they adjust to the ferocity of market fluctuations, a close eye remains on both the Fed's upcoming decisions and the administration's trade discourse. As the week unfolds, markets will likely remain sensitive to any developments that could shift the current trajectory of concern stretching across Wall Street.