Dow Plunges 400+ Points Amid Criminal Probe into Fed Chair Powell

• US stocks tumbled after the Department of Justice opened a criminal investigation into Federal Reserve Chair Jerome Powell.
• The Dow Jones Industrial Average lost 444 points (0.9%), S&P 500 fell 0.3%, while Nasdaq Composite remained flat.
• President Trump's call to cap credit card rates at 10% also impacted market sentiment, with bank shares leading losses.
• Powell stated he would not bow to political pressure, emphasizing the Fed's independence in setting interest rates.
• The Cboe Volatility Index rose, and the central bank is now expected to pause further rate cuts.

Why It Matters: US stocks fell sharply due to a criminal probe into Fed Chair Powell and concerns over political interference.