US stocks and the dollar plunged again as President Donald Trump intensified his attacks on the US central bank boss calling him "a major loser" for not lowering interest rates, BBC reported.

In a social media post, Trump called on Federal Reserve chair Jerome Powell to cut interest rates "pre-emptively" to help boost the economy, saying Powell had been consistently too slow to respond to economic developments. 

"There can be a SLOWING of the economy unless Mr. Too Late, a major loser, lowers interest rates, NOW," he wrote.

Trump's criticism of Powell's handling of the US economy comes as his own plans for tariffs have driven a stock market sell-off and raised fears of economic recession, according to BBC.