The Financial Post reports in its Tuesday edition that "Sell America" sentiment rippled through markets on Monday after the Trump administration escalated its attacks on the U.S. Federal Reserve, fanning concerns over the central bank's autonomy. A Bloomberg dispatch to the Post says the dollar, Treasuries and U.S. equities futures slid after Fed Chair Jerome Powell said the threat of a federal criminal indictment was a consequence of a disagreement over monetary policy. While the declines were relatively small, the hot-button issue of the Fed's independence and the implications for U.S. markets resurfaced in investor debates. "Any development that raises questions about the Fed's independence adds uncertainty around U.S. monetary policy," said Gary Tan at Allspring Global. "This is likely to reinforce existing trends of diversification away from the dollar and increase interest in traditional hedges such as gold." Some strategists warned that the sell-off may deepen if tensions continue. "To characterize the events as putting the Fed independence discussion into uncharted waters would be an understatement," Ian Lyngen at BMO Capital Markets said in a note. "We remain skewed toward higher yields in the near-term."