With stocks pulling off yet another stunning intraday reversal as trade tensions and an ominous OMB report sapped investors of what little confidence they gained over the weekend, the New York Times dropped a bombshell that helped drive them to their session lows when it reported that the FBI has raided the offices of Trump lawyer Michael Cohen.
Federal prosecutors in Manhattan obtained a search warrant following a referral from Special Counsel Robert Mueller, Cohen’s lawyer told the times. He also called the search “completely inappropriate and unnecessary.” The search doesn’t appear to be related to the Mueller probe – but rather separate charges being explored by prosecutors in New York.
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