U.S. stocks and the dollar fell sharply on April 21 as investors retreated from American markets. The decline follows increasing concerns over President Donald Trump's trade policies and his criticism of the Federal Reserve. Market participants cited worries about the ongoing trade war and uncertainty regarding U.S. monetary policy as key factors driving the sell-off. The flight from U.S. assets has also led to a notable rise in gold prices, while both stocks and bonds have declined. This pattern of capital flight, with gold way up, is new for the United States but is familiar in emerging markets experiencing economic instability.