JEDDAH, Saudi Arabia (AP) — Here's a guide that tells you what you need to know about Sunday's Saudi Arabian F1 Grand Prix. It's the fifth round of the 2025 Formula 1 season.
— In the U.S., ESPN.
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Red Bull driver Max Verstappen of the Netherlands, center, pole position, is flanked by McLaren driver Oscar Piastri of Australia, left, second fastest time and Mercedes driver George Russell of Britain, third fastest time after the qualifying session ahead of the Formula One Saudi Arabian Grand Prix at the Jeddah Corniche Circuit in Jeddah, Saudi Arabia, Saturday, April 19, 2025. (AP Photo/Darko Bandic)
McLaren driver Lando Norris' car is carried out of the track after crashing during the qualifying session ahead of the Formula One Saudi Arabian Grand Prix at the Jeddah Corniche Circuit in Jeddah, Saudi Arabia, Saturday, April 19, 2025. (AP Photo/Altaf Qadri)
Red Bull driver Max Verstappen of the Netherlands, center, pole position, is flanked by McLaren driver Oscar Piastri of Australia, left, second fastest time and Mercedes driver George Russell of Britain, third fastest time after the qualifying session ahead of the Formula One Saudi Arabian Grand Prix at the Jeddah Corniche Circuit in Jeddah, Saudi Arabia, Saturday, April 19, 2025. (AP Photo/Darko Bandic)
Red Bull driver Max Verstappen of the Netherlands, pole position, left, cheers with McLaren driver Oscar Piastri of Australia, second fastest time, after the qualifying session ahead of the Formula One Saudi Arabian Grand Prix at the Jeddah Corniche Circuit in Jeddah, Saudi Arabia, Saturday, April 19, 2025. (AP Photo/Darko Bandic)
Red Bull driver Max Verstappen of the Netherlands thumbs up after setting the pole position in the qualifying session ahead of the Formula One Saudi Arabian Grand Prix at the Jeddah Corniche Circuit in Jeddah, Saudi Arabia, Saturday, April 19, 2025. (AP Photo/Darko Bandic)
Ferrari driver Lewis Hamilton of Britain makes a pit stop during the Formula One Bahrain Grand Prix at Sakhir circuit, Sunday, April 13, 2025. (Andrej Isakovic Pool via AP)
Mechanics push Red Bull driver Max Verstappen of the Netherlands on the starting grid before the the Formula One Bahrain Grand Prix, in Sakhir, Sunday, April 13, 2025. (AP Photo/Darko Bandic)
Mercedes driver George Russell of Britain celebrates second place at the the Formula One Bahrain Grand Prix, in Sakhir, Sunday, April 13, 2025. (AP Photo/Altaf Qadri)
McLaren driver Oscar Piastri of Australia holds trophy after winning the the Formula One Bahrain Grand Prix, in Sakhir, Sunday, April 13, 2025. (AP Photo/Darko Bandic)
McLaren driver Oscar Piastri of Australia celebrates after winning the the Formula One Bahrain Grand Prix, in Sakhir, Sunday, April 13, 2025. (AP Photo/Altaf Qadri)
— Other countries are listed here.
– Sunday: Saudi Arabian Grand Prix, 50 laps of the 6.2-kilometer (3.8-mile) Jeddah Corniche Circuit. Starts at 1900 GMT (1 p.m. ET)
The Jeddah Corniche Circuit is one of the newest venues on the F1 calendar after making its debut in 2021. Hosting F1 is part of Saudi Arabia's push to become a major player in global sports. Jeddah is fast for a street circuit and walls close to the track mean the slightest error brings heavy punishment. It's the second night race in a row after last week's Bahrain Grand Prix. Max Verstappen is the only driver to win in Jeddah twice. Lewis Hamilton and Sergio Perez have one win each.
Oscar Piastri became the first driver to win two races this season with a dominant drive from pole position to victory in Bahrain. It was a dramatic race behind him as George Russell contended with electrical problems and held off Piastri's McLaren teammate Lando Norris to take second. Verstappen had problems with his Red Bull and placed sixth. Norris leads the 2025 driver standings by three points from Piastri.
Formula 1 champion Verstappen took pole position in qualifying after standings leader Lando Norris crashed. Red Bull’s Verstappen beat Piastri’s time by .01 of a second on his final run to take pole. Russell was third fastest for Mercedes. Norris had not set a time in the third part of qualifying when he lost control over a curb and ran wide into the wall.
Get caught up:
— Max Verstappen takes pole position for the Saudi Grand Prix.
— The F1 title fight is increasingly focused on McLaren's drivers but Max Verstappen is still hopeful
— Oscar Piastri cruises to win at Bahrain Grand Prix, with Lando Norris third
— Max Verstappen says he’s ‘relaxed’ despite speculation about his Formula 1 future
— Lando Norris feels ‘nowhere near’ his best as Formula 1 title contest heats up inside McLaren
— Concerns mount at Red Bull after Max Verstappen’s ‘catastrophe’ as F1 heads to Saudi Arabia
58 — McLaren's gap over its nearest challenger Mercedes in the constructors' standings shows how it's the only team to be consistently fast at all tracks so far.
69 — Verstappen has scored all but two of Red Bull's 71 points this season. Tsunoda's ninth place in Bahrain was the first time any of his teammates finished in the top 10 since November.
7 — Rookie Oliver Bearman made a splash on debut in Saudi Arabia last year with seventh place as an emergency stand-in for Ferrari. Now at Haas, that's still Bearman's best finish in F1.
“The car came alive in the night. We made some final changes and it was a lot more enjoyable to drive, the grip was coming to me." — Verstappen.
“I was pretty happy with it. There wasn’t too much more left in that lap.” — Piastri.
"We’re disappointed to have such a big setback but I’ve got to take it on the chin. I apologized to the team, to my mechanics and the engineers.” Norris.
AP auto racing: https://apnews.com/hub/auto-racing
McLaren driver Lando Norris' car is carried out of the track after crashing during the qualifying session ahead of the Formula One Saudi Arabian Grand Prix at the Jeddah Corniche Circuit in Jeddah, Saudi Arabia, Saturday, April 19, 2025. (AP Photo/Altaf Qadri)
Red Bull driver Max Verstappen of the Netherlands, center, pole position, is flanked by McLaren driver Oscar Piastri of Australia, left, second fastest time and Mercedes driver George Russell of Britain, third fastest time after the qualifying session ahead of the Formula One Saudi Arabian Grand Prix at the Jeddah Corniche Circuit in Jeddah, Saudi Arabia, Saturday, April 19, 2025. (AP Photo/Darko Bandic)
Red Bull driver Max Verstappen of the Netherlands, pole position, left, cheers with McLaren driver Oscar Piastri of Australia, second fastest time, after the qualifying session ahead of the Formula One Saudi Arabian Grand Prix at the Jeddah Corniche Circuit in Jeddah, Saudi Arabia, Saturday, April 19, 2025. (AP Photo/Darko Bandic)
Red Bull driver Max Verstappen of the Netherlands thumbs up after setting the pole position in the qualifying session ahead of the Formula One Saudi Arabian Grand Prix at the Jeddah Corniche Circuit in Jeddah, Saudi Arabia, Saturday, April 19, 2025. (AP Photo/Darko Bandic)
Ferrari driver Lewis Hamilton of Britain makes a pit stop during the Formula One Bahrain Grand Prix at Sakhir circuit, Sunday, April 13, 2025. (Andrej Isakovic Pool via AP)
Mechanics push Red Bull driver Max Verstappen of the Netherlands on the starting grid before the the Formula One Bahrain Grand Prix, in Sakhir, Sunday, April 13, 2025. (AP Photo/Darko Bandic)
Mercedes driver George Russell of Britain celebrates second place at the the Formula One Bahrain Grand Prix, in Sakhir, Sunday, April 13, 2025. (AP Photo/Altaf Qadri)
McLaren driver Oscar Piastri of Australia holds trophy after winning the the Formula One Bahrain Grand Prix, in Sakhir, Sunday, April 13, 2025. (AP Photo/Darko Bandic)
McLaren driver Oscar Piastri of Australia celebrates after winning the the Formula One Bahrain Grand Prix, in Sakhir, Sunday, April 13, 2025. (AP Photo/Altaf Qadri)
NEW YORK (AP) — Stocks of credit-card companies are tumbling on Monday after President Donald Trump threatened moves that could eat into their profits. The rest of Wall Street, meanwhile, was showing only modest signals of concern after tensions ramped to a much higher degree between the White House and the Federal Reserve.
The S&P 500 edged down by 0.1% from its all-time high as U.S. stocks drifted through mixed morning trading, while prices for gold and other investments that tend to do well when investors are nervous rose. The value of the U.S. dollar also dipped against the euro and other currencies amid concerns that the Fed may have less independence in setting interest rates to keep inflation under control.
The Dow Jones Industrial Average was down 179 points, or 0.4%, as of 10 a.m. Eastern time, and the Nasdaq composite was nearly unchanged.
Some of the market's sharpest drops came from credit-card companies, as Synchrony Financial, Capital One Financial and American Express all fell between 4% and 7%. They sank after Trump said he wanted to put a 10% cap on credit-card interest rates for a year. Such a move could eat into profits for credit card companies.
But it was a separate move by Trump that was grabbing more attention on Wall Street. Over the weekend, the Federal Reserve's chair, Jerome Powell, said the U.S. Department of Justice subpoenaed the Fed and threatened a criminal indictment over his testimony about renovations underway at its headquarters.
With an unusual video statement released on Sunday, Powell said his testimony and the renovations are “pretexts” for the threat of criminal charges, which is really “a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.”
The Fed has been locked in a feud with the White House about interest rates. Trump has been loudly calling for lower interest rates, which would make borrowing cheaper for U.S. households and companies and could give the economy a kickstart.
The Fed did cut its main interest rate three times last year and has indicated more cuts may be arriving this year. But it’s been moving slowly enough that Trump has nicknamed Powell “Too Late.”
In a brief interview with NBC News Sunday, President Donald Trump insisted he didn’t know about the investigation into Powell. When asked if the investigation is intended to pressure Powell on rates, Trump said, “No. I wouldn’t even think of doing it that way.”
Powell’s term as chair ends in May, and Trump administration officials have signaled that he could name a potential replacement this month. Trump has also sought to fire Fed governor Lisa Cook.
The Fed has traditionally operated separately from the rest of Washington, making its decisions on interest rates without having to bend to political whims. Such independence, the thinking goes, gives it freedom to make unpopular moves that are necessary for the economy’s long-term health.
Keeping interest rates high, for example, could slow the economy and frustrate politicians looking to please voters. But it could also be the medicine needed to get high inflation under control.
In the bond market, the yield on the 10-year Treasury ticked up to 4.19% from 4.18% late Friday. A less independent Fed and higher inflation in the long term could also erode the value of the U.S. dollar, and it slipped 0.3% against the euro and 0.4% against the Swiss franc.
In stock markets abroad, indexes rose across much of Europe and Asia. Stocks jumped 1.4% in Hong Kong and 1.1% in Shanghai for two of the world’s bigger gains following reports that Chinese leaders were preparing more help for the economy.
AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
Traders work on the floor at the New York Stock Exchange in New York, Friday, Jan. 9, 2026. (AP Photo/Seth Wenig)
James Lamb works on the floor at the New York Stock Exchange in New York, Friday, Jan. 9, 2026. (AP Photo/Seth Wenig)
Specialist Anthony Matesic works on the floor of the New York Stock Exchange, Thursday, Jan. 8, 2026. (AP Photo/Richard Drew)
Daniel Kryger works on the floor at the New York Stock Exchange in New York, Friday, Jan. 9, 2026. (AP Photo/Seth Wenig)
Dealers watch computer monitors near the screens showing the foreign exchange rate between U.S. dollar and South Korean won at a dealing room of Hana Bank in Seoul, South Korea, Monday, Jan. 12, 2026. (AP Photo/Lee Jin-man)
A dealer walks near the screens showing the foreign exchange rate between U.S. dollar and South Korean won and the Korean Securities Dealers Automated Quotations (KOSDAQ) at a dealing room of Hana Bank in Seoul, South Korea, Monday, Jan. 12, 2026. (AP Photo/Lee Jin-man)
Dealers talk near the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a dealing room of Hana Bank in Seoul, South Korea, Monday, Jan. 12, 2026. (AP Photo/Lee Jin-man)
A dealer walks near the screens showing the foreign exchange rates at a dealing room of Hana Bank in Seoul, South Korea, Monday, Jan. 12, 2026. (AP Photo/Lee Jin-man)