Markets on Wall Street recovered some of their overnight losses after President Donald Trump announced he was firing Federal Reserve Governor Lisa Cook.

Wall Street's main indexes were flat on Tuesday, pressured by a rise in Treasury bond yields as President Donald Trump's decision to fire a central bank governor renewed concerns about the Federal Reserve's independence.

While UBS’s Paul Donovan told clients the attempt was “completely unprecedented,” Wharton’s Jeremy Siegel argued her ousting adds “noise but little substance” compared with the Fed’s longer-term policy pivots.