Photos of a confrontation between protesters and federal officials outside California farm

CAMARILLO, Calif. (AP) — A confrontation erupted Thursday between protesters and federal officials carrying out a raid on a Southern California farm, with authorities throwing canisters that sprayed what looked like smoke into the air to disperse the crowd.

This is a photo gallery curated by AP photo editors.

Arturo Rangel hugs Judith Ramos whose father works at the greenhouse in the background as federal immigration agents block access during a raid in the agriculture area of Camarillo, Calif., Thursday, July 10, 2025. (AP Photo/Michael Owen Baker)

People shout at federal immigration agents during a raid in the agriculture area of Camarillo, Calif., Thursday, July 10, 2025. (AP Photo/Michael Owen Baker)

Federal immigration agents toss tear gas at protesters during a raid in the agriculture area of Camarillo, Calif., Thursday, July 10, 2025. (AP Photo/Michael Owen Baker)

Rebecca Torres stands in front of a military vehicle approaching a federal immigration agents raid in the agriculture area of Camarillo, Calif., Thursday, July 10, 2025. (AP Photo/Michael Owen Baker)

Milk is poured on a protester's face after federal immigration agents tossed tear gas at protesters during a raid in the agriculture area of Camarillo, Calif., Thursday, July 10, 2025. (AP Photo/Michael Owen Baker)

Federal immigration agents talk to Rebecca Torres, second left, after she tried to block a military vehicle during a raid in the agriculture area of Camarillo, Calif., Thursday, July 10, 2025. (AP Photo/Michael Owen Baker)

A demonstrator walks in front of federal agents blocking a road during an immigration raid in Camarillo, Calif., Thursday, July 10, 2025. (AP Photo/Michael Owen Baker)

A demonstrator kneels in front of federal agents in a farm field during an immigration raid in Camarillo, Calif., Thursday, July 10, 2025. (AP Photo/Michael Owen Baker)

A protester runs from tear gas tossed by federal immigration agents to clear a path for the vehicles during a raid in the agriculture area of Camarillo, Calif., Thursday, July 10, 2025. (AP Photo/Michael Owen Baker)

NEW YORK (AP) — Stocks of credit-card companies are tumbling on Monday after President Donald Trump threatened moves that could eat into their profits. The rest of Wall Street, meanwhile, was showing only modest signals of concern after tensions ramped to a much higher degree between the White House and the Federal Reserve.

The S&P 500 edged down by 0.1% from its all-time high as U.S. stocks drifted through mixed morning trading, while prices for gold and other investments that tend to do well when investors are nervous rose. The value of the U.S. dollar also dipped against the euro and other currencies amid concerns that the Fed may have less independence in setting interest rates to keep inflation under control.

The Dow Jones Industrial Average was down 179 points, or 0.4%, as of 10 a.m. Eastern time, and the Nasdaq composite was nearly unchanged.

Some of the market's sharpest drops came from credit-card companies, as Synchrony Financial, Capital One Financial and American Express all fell between 4% and 7%. They sank after Trump said he wanted to put a 10% cap on credit-card interest rates for a year. Such a move could eat into profits for credit card companies.

But it was a separate move by Trump that was grabbing more attention on Wall Street. Over the weekend, the Federal Reserve's chair, Jerome Powell, said the U.S. Department of Justice subpoenaed the Fed and threatened a criminal indictment over his testimony about renovations underway at its headquarters.

With an unusual video statement released on Sunday, Powell said his testimony and the renovations are “pretexts” for the threat of criminal charges, which is really “a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.”

The Fed has been locked in a feud with the White House about interest rates. Trump has been loudly calling for lower interest rates, which would make borrowing cheaper for U.S. households and companies and could give the economy a kickstart.

The Fed did cut its main interest rate three times last year and has indicated more cuts may be arriving this year. But it’s been moving slowly enough that Trump has nicknamed Powell “Too Late.”

In a brief interview with NBC News Sunday, President Donald Trump insisted he didn’t know about the investigation into Powell. When asked if the investigation is intended to pressure Powell on rates, Trump said, “No. I wouldn’t even think of doing it that way.”

Powell’s term as chair ends in May, and Trump administration officials have signaled that he could name a potential replacement this month. Trump has also sought to fire Fed governor Lisa Cook.

The Fed has traditionally operated separately from the rest of Washington, making its decisions on interest rates without having to bend to political whims. Such independence, the thinking goes, gives it freedom to make unpopular moves that are necessary for the economy’s long-term health.

Keeping interest rates high, for example, could slow the economy and frustrate politicians looking to please voters. But it could also be the medicine needed to get high inflation under control.

In the bond market, the yield on the 10-year Treasury ticked up to 4.19% from 4.18% late Friday. A less independent Fed and higher inflation in the long term could also erode the value of the U.S. dollar, and it slipped 0.3% against the euro and 0.4% against the Swiss franc.

In stock markets abroad, indexes rose across much of Europe and Asia. Stocks jumped 1.4% in Hong Kong and 1.1% in Shanghai for two of the world’s bigger gains following reports that Chinese leaders were preparing more help for the economy.

AP Business Writers Matt Ott and Elaine Kurtenbach contributed.

Traders work on the floor at the New York Stock Exchange in New York, Friday, Jan. 9, 2026. (AP Photo/Seth Wenig)

James Lamb works on the floor at the New York Stock Exchange in New York, Friday, Jan. 9, 2026. (AP Photo/Seth Wenig)

Specialist Anthony Matesic works on the floor of the New York Stock Exchange, Thursday, Jan. 8, 2026. (AP Photo/Richard Drew)

Daniel Kryger works on the floor at the New York Stock Exchange in New York, Friday, Jan. 9, 2026. (AP Photo/Seth Wenig)

Dealers watch computer monitors near the screens showing the foreign exchange rate between U.S. dollar and South Korean won at a dealing room of Hana Bank in Seoul, South Korea, Monday, Jan. 12, 2026. (AP Photo/Lee Jin-man)

A dealer walks near the screens showing the foreign exchange rate between U.S. dollar and South Korean won and the Korean Securities Dealers Automated Quotations (KOSDAQ) at a dealing room of Hana Bank in Seoul, South Korea, Monday, Jan. 12, 2026. (AP Photo/Lee Jin-man)

Dealers talk near the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a dealing room of Hana Bank in Seoul, South Korea, Monday, Jan. 12, 2026. (AP Photo/Lee Jin-man)

A dealer walks near the screens showing the foreign exchange rates at a dealing room of Hana Bank in Seoul, South Korea, Monday, Jan. 12, 2026. (AP Photo/Lee Jin-man)