Current Affairs Report – April 21, 2025: A Comprehensive Overview for Competitive Exams

On April 21, 2025, the global and Indian landscapes were marked by significant developments across politics, economy, international relations, environment, and sports. These events are highly relevant for students preparing for UPSC, SSC, Banking, and other government exams, as they align with key syllabus areas such as governance, economic policies, global trade, environmental conservation, and current affairs. This detailed report, sourced from credible outlets like Reuters (Global Markets Wrap-up) and The Hindu (Morning Digest), provides an engaging and reader-friendly analysis to help students gain a competitive edge.

Political Developments: Tensions Over Central Bank Independence

The United States witnessed a significant political controversy as President Donald Trump intensified his criticism of Federal Reserve Chair Jerome Powell. TrUmp expressed frustration with the Federal Reserve’s decision to maintain interest rates at 4.25%-4.50% since December 2024, warning that the U.S. economy could face a slowdown without immediate rate cuts. This ongoing feud has raised concerns about the Fed’s independence, a critical factor in ensuring unbiased monetary policy decisions.

White House economic adviser Kevin Hassett indicated that Trump’s team might consider options, including the possibility of removing Powell, though such a move would be unprecedented and controversial. Analysts argue that these attacks threaten the predictable rule of law, which underpins investor confidence and economic stability. The U.S. Supreme Court’s role in upholding the co-equal status of the executive, legislative, and judicial branches has also come under scrutiny, as Trump’s actions challenge institutional norms.

For UPSC aspirants, this event underscores the importance of understanding the dynamics between political leadership and independent institutions. It also highlights the global implications of U.S. policy decisions, a key area in international relations. Banking exam candidates should note how political rhetoric can influence monetary policy expectations and market sentiment.

Economic Developments: Market Volatility and Global Trade

The U.S. financial markets experienced significant turbulence on April 21, 2025, largely due to Trump’s criticism of the Federal Reserve. The Dow Jones Industrial Average plummeted by 937.33 points (2.39%) to 38,205.01, the S&P 500 fell by 128.08 points (2.43%) to 5,154.25, and the Nasdaq Composite dropped 446.75 points (2.75%) to 15,839.28. Globally, the MSCI world equity index, tracking shares in 49 nations, declined by 7.78 points (0.98%) to 785.64, reflecting widespread investor unease.

Currency markets also saw significant movements. The U.S. dollar index hit a three-year low of 97.923, its weakest since March 2022. The euro strengthened by 0.94% to $1.1498, while the dollar weakened by 0.98% against the Japanese yen to 140.78 and by 1.07% against the Swiss franc to 0.808. These shifts indicate a flight to safer currencies amid uncertainty.

Safe-haven assets performed strongly, with gold prices reaching a record high of $3,424.25 per ounce before closing up 2.6% at $3,414.91. The 10-year U.S. Treasury yield edged up by 1.9 basis points to 4.346% from 4.327%, signaling cautious investor sentiment. In the cryptocurrency space, Bitcoin surged by 3.88% to $88,384.03, and Ethereum gained 3.07% to $1,638.04, reflecting their growing role as alternative investments during market volatility.

The U.S.-China trade war further exacerbated economic uncertainty. China imposed retaliatory tariffs of 34% on all U.S. goods and restricted exports of rare earths, responding to Trump’s additional 54% tariffs on Chinese imports. This escalation led to a decline in oil prices, with U.S. crude falling 2.66% to $62.96 per barrel and Brent crude dropping 2.71% to $66.12 per barrel. The trade war’s impact on global supply chains and commodity prices is a critical topic for UPSC and Banking exams, as it affects economic policies and international trade dynamics.

Economic Indicator	Change on April 21, 2025	Closing Value
Dow Jones Industrial Average	-937.33 points (-2.39%)	38,205.01
S&P 500	-128.08 points (-2.43%)	5,154.25
Nasdaq Composite	-446.75 points (-2.75%)	15,839.28
U.S. Dollar Index	Hit three-year low	97.923
Gold Prices	+2.6% (record high $3,424.25)	$3,414.91/oz
U.S. Crude Oil	-2.66%	$62.96/barrel
Brent Crude Oil	-2.71%	$66.12/barrel

For Banking aspirants, these market movements highlight the interplay between political statements and financial stability. UPSC candidates should focus on the broader implications for global economic policies and India’s position in international trade.

International Relations: Escalating U.S.-China Trade War

The U.S.-China trade war reached new heights on April 21, 2025, with both nations imposing significant tariffs. The U.S. introduced additional levies of 54% on Chinese goods, closing a trade loophole that previously allowed low-value packages to enter duty-free. China retaliated with 34% tariffs on all U.S. goods and imposed export curbs on rare earths, critical for technology and defense industries. China’s finance ministry condemned the U.S. actions as “unilateral bullying,” arguing they violate international trade rules.

The trade war has disrupted global markets, contributing to the decline in oil prices and increasing volatility in stock and currency markets. China also imposed sanctions on 30 U.S. organizations, primarily in defense-related sectors, further straining bilateral relations. These developments have far-reaching implications for global supply chains, commodity prices, and geopolitical stability.

For UPSC aspirants, the U.S.-China trade war is a key case study in international relations, illustrating the complexities of trade negotiations and their impact on global economies. Banking and SSC candidates should note the economic ramifications, including the effects on inflation, trade balances, and India’s export markets.

Environmental Progress: Cheetah Relocation in India

In a significant step for wildlife conservation, India relocated two cheetahs, Prabhas and Pawak, to the Gandhi Sagar Wildlife Sanctuary in Madhya Pradesh on April 20, 2025, as reported by The Hindu (Cheetah Relocation). This initiative, led by Madhya Pradesh Chief Minister Mohan Yadav, is part of India’s efforts to restore cheetah populations and promote biodiversity.

The relocation aligns with India’s commitments under global conservation frameworks and reflects the government’s focus on environmental sustainability. For UPSC aspirants, this event is crucial for the Environment and Ecology section, highlighting India’s role in wildlife conservation and the challenges of reintroducing species. SSC candidates should note this as a current affairs topic under government initiatives.

Sports Achievements: IPL 2025 Highlights

The Indian Premier League (IPL) 2025 continued to captivate audiences, with Mumbai Indians securing a victory against Chennai Super Kings on April 20, 2025, in a high-profile match. Powered by stellar performances from Rohit Sharma and Suryakumar Yadav, Mumbai Indians showcased their dominance, as reported by The Hindu (IPL Match).

This sporting event underscores India’s growing influence in global sports and its vibrant cricket culture. For SSC and Banking exams, sports achievements are often included in current affairs sections, making this a noteworthy topic for aspirants.

Other Notable Developments

Governance and Social Issues

• Women in Civil Services: Union Minister Jitendra Singh highlighted a historic 41% representation of women (74 women) in the 2023 IAS batch, signaling progress in gender inclusivity in governance (Women in Civil Services). This is relevant for UPSC aspirants studying social issues and governance.
• Murshidabad Violence: Political tensions in West Bengal escalated as CPI(M) leader Md. Salim blamed the RSS for riots in Murshidabad, calling Mamata Banerjee the “Durga of the RSS” (Murshidabad Violence). This event is significant for UPSC’s internal security and governance sections.

Space and International Cooperation

• India’s Role in Space: A European Union envoy emphasized India’s potential to contribute to an international framework for responsible space behavior, addressing concerns about ASAT debris and RPO activities (India in Space). This is a key topic for UPSC’s science and technology and international relations sections.

Legal and Defense Issues

• Sanjay Bhandari’s Legal Battle: Arms dealer Sanjay Bhandari opposed the Enforcement Directorate’s plea to declare him a fugitive, citing his legal stay in the U.K. (Sanjay Bhandari). This case is relevant for UPSC’s internal security and legal framework topics.

Conclusion

The events of April 21, 2025, highlight the intricate interplay of politics, economy, international relations, environment, and sports on the global and Indian stages. From Trump’s criticism of the Federal Reserve to the U.S.-China trade war, these developments have far-reaching implications for economic stability and geopolitical dynamics. In India, initiatives like the cheetah relocation and achievements in IPL 2025 reflect the country’s progress in conservation and sports.

For students preparing for UPSC, SSC, Banking, and other government exams, understanding these events is crucial. They align with key syllabus areas, including governance, economic policies, environmental conservation, and current affairs. By staying informed through credible sources and analyzing the broader implications, aspirants can gain a competitive edge in their preparation.

Daily quiz on current affairs with answers

Question 1: What was the main reason behind the sharp fall in U.S. stock markets on April 21, 2025?
Option 1: Decline in consumer spending
Option 2: Rise in global oil prices
Option 3: Political interference with the Federal Reserve
Option 4: COVID-25 outbreak fears
Option 5: U.S.-China diplomatic settlement
Answer: Option 3
Explanation: The U.S. stock markets fell significantly on April 21, 2025, primarily due to President Trump’s criticism of the Federal Reserve for not cutting interest rates. This political pressure created uncertainty around the central bank’s independence, shaking investor confidence and triggering a sharp market decline.

Question 2: Which two cheetahs were relocated to Gandhi Sagar Wildlife Sanctuary as part of India’s conservation initiative?
Option 1: Asha and Oban
Option 2: Prabhas and Pawak
Option 3: Surya and Tejas
Option 4: Arjun and Maya
Option 5: Dhruv and Tara
Answer: Option 2
Explanation: On April 20, 2025, India relocated two cheetahs named Prabhas and Pawak to the Gandhi Sagar Wildlife Sanctuary in Madhya Pradesh. This move was part of India’s broader efforts to reintroduce cheetahs and promote biodiversity conservation.

Question 3: Which country imposed 34% retaliatory tariffs on all U.S. goods in response to increased American tariffs?
Option 1: Japan
Option 2: China
Option 3: South Korea
Option 4: Brazil
Option 5: Germany
Answer: Option 2
Explanation: China retaliated against the U.S. on April 21, 2025, by imposing 34% tariffs on all American goods after the U.S. increased tariffs by 54% on Chinese imports. This marked a significant escalation in the ongoing trade war between the two nations.

Question 4: Which financial asset reached a record high price on April 21, 2025, amid global market turbulence?
Option 1: Silver
Option 2: Crude Oil
Option 3: Gold
Option 4: Ethereum
Option 5: U.S. Dollar Index
Answer: Option 3
Explanation: Gold reached a record high of $3,424.25 per ounce on April 21, 2025. The rise in price reflected increased demand for safe-haven assets amid geopolitical tensions and market uncertainty triggered by the U.S. political situation.

Question 5: What was the percentage drop in the Nasdaq Composite Index on April 21, 2025?
Option 1: 1.35%
Option 2: 2.11%
Option 3: 2.43%
Option 4: 2.75%
Option 5: 3.01%
Answer: Option 4
Explanation: The Nasdaq Composite fell by 2.75% on April 21, 2025, a drop of 446.75 points, due to increased political tensions in the U.S. and their impact on investor sentiment and monetary policy expectations.

Question 6: Who highlighted the historic 41% representation of women in the 2023 IAS batch?
Option 1: Prime Minister Narendra Modi
Option 2: Union Minister Jitendra Singh
Option 3: President Droupadi Murmu
Option 4: Home Minister Amit Shah
Option 5: NITI Aayog CEO B.V.R. Subrahmanyam
Answer: Option 2
Explanation: Union Minister Jitendra Singh emphasized the record 41% participation of women in the 2023 IAS batch, recognizing it as a significant milestone for gender inclusivity in the Indian civil services.

Question 7: What was the closing value of the U.S. Dollar Index on April 21, 2025, marking a three-year low?
Option 1: 98.451
Option 2: 99.112
Option 3: 97.923
Option 4: 96.804
Option 5: 95.710
Answer: Option 3
Explanation: The U.S. Dollar Index fell to 97.923 on April 21, 2025, marking its lowest point since March 2022, due to decreased investor confidence and political interference in monetary policy.

Question 8: Which Indian cricketers played a key role in Mumbai Indians’ win over Chennai Super Kings on April 20, 2025?
Option 1: Hardik Pandya and Ishan Kishan
Option 2: Rohit Sharma and Suryakumar Yadav
Option 3: Shreyas Iyer and Jasprit Bumrah
Option 4: Ruturaj Gaikwad and R. Jadeja
Option 5: Virat Kohli and Tilak Varma
Answer: Option 2
Explanation: Rohit Sharma and Suryakumar Yadav were the standout performers for Mumbai Indians in their match against Chennai Super Kings, contributing significantly to their team’s victory.

Question 9: Which European entity expressed support for India’s participation in an international space behavior framework?
Option 1: European Parliament
Option 2: ESA (European Space Agency)
Option 3: European Union
Option 4: NATO
Option 5: Eurocontrol
Answer: Option 3
Explanation: A European Union envoy highlighted India’s potential contribution to a global framework promoting responsible behavior in outer space, particularly in light of concerns over space debris and satellite safety.

Question 10: What key action did China take apart from imposing tariffs in response to U.S. trade policies?
Option 1: Withdrew from WTO
Option 2: Imposed sanctions on U.S. firms
Option 3: Suspended Belt and Road projects
Option 4: Froze all U.S. investments
Option 5: Banned U.S. agricultural imports
Answer: Option 2
Explanation: In addition to tariffs, China imposed sanctions on 30 U.S. organizations, primarily those in defense-related industries, as part of its broader response to escalating trade tensions with the U.S.