But the “Sell America” trade was muted Monday, with US stocks recovering initial losses and closing higher. The Dow gained 86 points, or 0.17%, to close at a record high, recouping losses after falling almost 500 points earlier. Stock market investors for now are shrugging off the Justice Department’s investigation into Powell. Fed independence is considered a cornerstone of what makes US financial markets exceptional. Markets had brief moments of panic in 2025 as Trump openly criticized Powell, calling him “too late” and questioning the Fed chief’s ability to run the central bank.

Source: CNN January 12, 2026 20:17 UTC