Stocks fall on Wall Street after Powell says Trump trying to undermine the Fed’s independence

NEW YORK (AP) — Stocks are falling on Wall Street after Federal Reserve Chair Jerome Powell said the Department of Justice had served the central bank with subpoenas and threatened it with a criminal indictment over his testimony about the Fed’s building renovations.

The S&P 500 fell 0.3% in early trading Monday. The Dow Jones Industrial Average lost 384 points, or 0.8%, and the Nasdaq composite fell 0.2%.

Powell characterized the threat of criminal charges as pretexts to undermine...