SELL AMERICA TRADE RETURNS AS POWELL PROBE HITS MARKETS U.S. markets sold off after Federal Reserve Chair Jerome Powell said he is under federal criminal investigation, reviving fears of political interference in monetary policy. Powell called the probe—linked to the Fed’s headquarters renovation—a pretext driven by pressure from President Donald Trump, warning it threatens central bank independence. Markets reacted swiftly: S&P 500 futures fell, the dollar weakened, Treasury yields rose, and gold hit record highs. Analysts described the move as “risk-off,” with some saying the “sell America” trade is back as investors demand a higher risk premium on U.S. assets. The escalation comes just ahead of a key Fed meeting and before Trump is expected to nominate Powell’s successor, adding to market uncertainty.(*Walter Bloomberg)