Trump’s headbutting with Fed Chairman Jerome Powell should be “taken very seriously and very negatively,” said one strategist, as Trump slammed the central banker as a “major loser.”

Global stocks are largely lower Monday, with the dollar extending its declines, weighed on by President Donald Trump's calls for Federal Reserve Chair Jerome Powell's termination as well as Beijing's threat of retaliation against countries that strike trade deals to isolate China.

Wall Street's main indexes opened down on Monday after U.S. President Donald Trump's renewed attacks against Federal Reserve Chair Jerome Powell sparked concerns about the central bank's independence and rattled investors grappling with an escalating trade war.