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Stocks wobble, dollar tips as Donald Trump-Fed feud deepens
short by / on Monday, 12 January, 2026
The dollar fell and US equity futures slid after Federal Reserve Chair Jerome Powell said the Trump administration threatened him with a criminal indictment, stoking investor worries about the central bank's independence. S&P 500 futures fell 0.5%, European futures dipped 0.1% in Asia, and the dollar slid about 0.2%, dropping below 158 yen and to $1.1660 per euro.