+4 Wall Street steadies, global markets sink after Trump escalates feud with the Federal Reserve Markets on Wall Street recovered some of their overnight losses after President Donald Trump announced he was firing Federal Reserve Governor Lisa Cook. Futures for the Nasdaq, Dow Jones Industrial Average and S&P 500 all inched down about 0.1% before the bell Tuesday. All three had swung lower after Trump said in a post Monday on his Truth Social platform that he was removing Cook because of allegations that she committed mortgage fraud. It’s an unprecedented move and a sharp escalation in Trump’s battle to exert greater control over the traditionally independent Fed. It's likely to trigger an extensive legal battle.

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