New York - Stocks plunged Monday, with the Dow Jones Industrial Average falling 653 points following President Trump’s tweet attacking the Federal Reserve and its independence.

The Dow Jones lost 2.9 percent and the benchmark S&P500 lost 2.7 percent after the president’s tweet expressing frustration over the Fed’s decision to raise its key short-term rate.

The Nasdaq fell 2.2 percent. Bond prices rose. The yield on the 10-year Treasury note fell to 2.74 percent.

Trading volume was low as the market closed early ahead of the holiday shutdown.