MSNBC anchor Stephanie Ruhle weighed in on the stock market's historic plunge on Monday, stating “we didn't see this when Janet Yellen Janet Louise YellenFed formally adopts new approach to balance inflation, unemployment Federal Reserve chief to outline plans for inflation, economy The Hill's Morning Report - Presented by Facebook - First lady casts Trump as fighter for the 'forgotten' MORE” was Federal Reserve chairwoman during the network's coverage of the market's wild ride on Tuesday morning.



The perspective comes one day after Jerome Powell, 65, was sworn as Yellen's replacement on Monday morning as the 16th chair of the central bank.

On the same day, the Dow Jones industrial average dropped 1,175 points, or 4.6 percent, to 24,346, the largest single-day drop in points in the Dow's history. The Nasdaq Composite also dropped 3.8 percent.





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Ruhle welcomed CNBC business reporter Jo Ling Kent to “Velshi & Ruhle” on MSNBC shortly after 9 a.m. to discuss what may be next for the market after Monday's tumultuous trading session.

Kent attributed the falling markets to anxiety on Wall Street that the strong economy will lead the Federal Reserve to raise interest rates. The Fed has signaled three hikes this year.

“What we’re seeing here is some mechanical trading, some [exchange-traded funds] action there, but we’re also seeing shifts in the economy right now that indicate the economy is heating up, so Wall Street will be looking at those interest rates,” Kent said. “The new Federal Reserve chairman, Jerome Powell, was sworn in yesterday, and some investors aren’t sure how much he is going to be raising rates and that of course would make stocks a whole lot less attractive, Steph.”



“You know, I like to tout a lot of girl power here," Ruhle responded. "I’m just going to say we didn’t see this when Janet Yellen was in that seat."



“The sell-off on Wall Street is posing a real issue for Donald Trump Donald John TrumpHR McMaster says president's policy to withdraw troops from Afghanistan is 'unwise' Cast of 'Parks and Rec' reunite for virtual town hall to address Wisconsin voters Biden says Trump should step down over coronavirus response MORE. Remember, this guy and his entire administration has spent the last year cheerleading the markets. Cheerleading. That is dangerous behavior, particularly in recent weeks,” she added.



Markets have been volatile again on Tuesday, with the Dow at one point moving from a 500-point loss to a gain of more than 300 points.

Trump has repeatedly touted the rising stock market as a testament to a strong U.S. economy under his presidency.

“The stock market has smashed one record after another, gaining $8 trillion in value,” the president said during his first State of the Union address on Jan. 30. “That is great news for Americans’ 401k, retirement, pension, and college savings accounts.”



Since Trump's stunning victory over Hillary Clinton Hillary Diane Rodham ClintonHillicon Valley: FBI chief says Russia is trying to interfere in election to undermine Biden | Treasury Dept. sanctions Iranian government-backed hackers The Hill's Campaign Report: Arizona shifts towards Biden | Biden prepares for drive-in town hall | New Biden ad targets Latino voters FBI chief says Russia is trying to interfere in election to undermine Biden MORE on Nov. 8, 2016, the Dow had gained 45 percent until Jan. 26, when it closed at 26,392.79, but has lost more than 2,000 points since.

Trump has not spoken publicly about the recent turbulence, though the White House in a statement released Monday downplayed it and pointed to strong economic fundamentals.