Instead of flocking to safe havens like bonds or US currencies, investors appear to be pulling back — a rare dislocation Wall Street strategists have dubbed the "sell America" trade. Investors accelerated that shift in sentiment with strong moves into commodities like gold (GC=F) and speculative positions such as bitcoin (BTC-USD).

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.”

Wall Street's main indexes jumped at the open on Tuesday, as investors turned their focus to corporate earnings after President Donald Trump's mounting criticism of Federal Reserve Chair Jerome Powell caused a sharp selloff in the previous session.