Trump fires Fed Fed Governor Lisa Cook

President Donald Trump fired Federal Reserve Governor Lisa Cook Monday amid mortgage fraud allegations.

The move raises more concerns about the independence of the U.S. central bank.

The U.S. dollar (DXY) tumbled, and S&P futures (SPX), Nasdaq 100 futures (US100:IND) and Dow futures (INDU) came under pressure.

Trump said in a letter posted on his Truth Social platform that he is firing Cook because of allegations that she committed mortgage fraud. Bill Pulte, a Trump appointee to the agency that regulates mortgage giants Fannie Mae and Freddie Mac, made the accusations last week.

-- The AP contributed to this report.