Last night UnitedHealth Group dropped 22%, Eli Lilly rose 14%, the US stock market is now in complete chaos.

The market turbulence before last night's close was nothing short of dramatic. Healthcare giant UnitedHealth Group (UNH) suffered a double blow—not only did it report dismal earnings with a 15% year-over-year decline in net profit, but it also slashed its full-year guidance by 10%, causing its stock price to plummet 22% in a single day and wiping out nearly $100 billion in market value. The company, already reeling from its CEO being summoned by Congress, now faces even greater challenges due to this earnings bomb.

Even more dramatic was the public clash between Trump and Powell. The former president went all out during trading hours, relentlessly attacking the Fed chair through social media and press conferences, even threatening, 'If I'm elected, I'll fire him immediately.' Powell responded firmly, stating, 'Trade conflicts won’t shake the independence of monetary policy.' The head-on collision between these two power centers intensified market volatility. Interestingly, while UNH crashed, Eli Lilly (LLY) surged 14% against the trend, highlighting a divergence within the healthcare sector as capital reassesses industry dynamics under policy risks.

Legally, even if Trump returns to the White House, he cannot directly remove the Fed chair. Under the Federal Reserve Act, the president can only dismiss Fed governors for 'cause,' and Powell's term lasts until 2028—a design meant to insulate monetary policy from political interference. However, historical precedent shows that sustained political pressure can influence policy timing. In 2019, when Trump threatened to replace Powell, the Fed indeed caved and prematurely ended its rate-hike cycle. The current market turbulence reflects the uncertainty in policy paths triggered by power struggles—an often more destructive force than known negatives.

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