Wall Street analysts are signaling that all this drama contains serious risks for the bond market, the dollar, and U.S. assets generally. If Trump gets his way, and U.S. monetary policy ends up being run by people who will do what he wants—as opposed to maintaining full employment and low inflation—then expect investors to recoil.

NEW YORK (AP) — U.S. stock indexes are edging lower on Thursday as Wall Street makes its final moves before the head of the Federal Reserve gives a highly anticipated speech on Friday that could hint at where interest rates are going.