12:19 PM EDT, 08/26/2025 (MT Newswires) -- US equity indexes traded little changed to mixed in midday trading on Tuesday as investors weighed President Donald Trump's order to remove Federal Reserve Governor Lisa Cook from office.

Amid these developments, the Dow Jones Industrial Average fell less than 0.1% to 45,259.2. The S&P 500 was little changed at 6,440.2, and the Nasdaq Composite rose 0.1% to 21,476.3. Industrials led the gainers intraday, while energy emerged as the laggard.

Trump disclosed a letter late Monday on Truth Social addressed to Cook stating that she is "hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately," citing information from Federal Housing Finance Agency Director William Pulte and Attorney General Pam Bondi that Cook "may have made false statements on one or more mortgage agreements."

Cook is planning to sue Trump over his attempt to dismiss her, her attorney said Tuesday, according to media reports. Cook's attorney, Abbe Lowell, suggested that Trump lacks the authority to remove Cook and will take legal action.

In other market news, index heavyweight Nvidia ( NVDA ) could see a $260 billion swing in its market value following its Q2 results on Wednesday, Reuters reported on Tuesday, citing US options market data. Nvidia's ( NVDA ) options implied an approximate 6% movement in its shares in either direction post the chipmaker's earnings, Reuters said, adding that this was below the 7% long-term average move.

Separately, West Texas Intermediate crude oil futures slumped 2% to $63.46 a barrel.

"Heavy-handed intervention in the Fed's independence is an implicit admission of the fiscal bind: every available tool is needed to manage a ballooning debt pile," PVM Oil Associates said in a note.

Treasury yields traded mixed, with the two-year yield down 4.1 basis points to 3.69% while the 30-year rate climbed 3.5 basis points to 4.92%.