Political escalation roils markets, gold jumps 2%, revealing investor anxiety. This is a direct test of the Federal Reserve's ability to withstand pressure from the US administration. US stock index futures fell in early trading amid rising tensions between the White House and the Federal Reserve. This came after the Department of Justice announced it had opened a criminal investigation into Federal Reserve Chairman Jerome Powell. The move was seen as an unprecedented escalation by President Donald Trump in his attempt to pressure the central bank. Dow Jones Industrial Average futures fell about 240 points, or 0.48%, S&P 500 futures declined 38 points, equivalent to about 0.53%, while Nasdaq Composite futures lost ground.
