5 Things to Know — Jan. 13: Markets Hold Amid DOJ Probe; Tariffs, ICE Lawsuit, Trans Athlete Cases, Synagogue Arson

Wall Street climbed Monday after investors largely shrugged off news that the Justice Department has opened a criminal inquiry into Federal Reserve Chair Jerome Powell. Market analysts warn the probe could still unsettle sentiment and spark bouts of volatility.

Here are the key developments to know this morning:

Tariffs on Countries Doing Business With Iran: President Donald Trump announced a proposed 25% tariff on nations that continue trade with Iran, intended to increase pressure as widespread anti-government protests continue. The measure could raise costs for imports from major trading partners such as China and amplify economic pain for countries like India, which already face U.S. levies. Trump also said he has discussed the possibility of U.S. military options to "rescue" protesters. Iranian authorities imposed a communications blackout on Thursday that has largely severed the country from the global internet amid the unrest.

States Sue Over Federal Immigration Operations: Minnesota and Illinois filed lawsuits challenging the Trump administration's expanded immigration enforcement actions. State officials say federal agents have engaged in aggressive tactics that threaten civil liberties and public safety; both states are seeking injunctions to halt ICE operations they say target Democratic strongholds including Chicago and the Twin Cities.

Supreme Court to Hear Transgender Athlete Cases: The Supreme Court will hear two high-profile cases on whether states may bar transgender women from competing on female sports teams. The disputes center on whether such bans violate federal anti-discrimination law or the Equal Protection Clause of the Constitution. Supporters of restrictions argue that transgender women may retain physical advantages after puberty; advocates for trans athletes counter that research is inconsistent and that blanket bans can discriminate against transgender people.

Synagogue Arson Suspect Arrested in Mississippi: Authorities arrested a suspect who confessed to setting fire to Beth Israel Congregation in Jackson, Mississippi, reportedly because of the synagogue’s Jewish ties. The FBI says the suspect used gasoline and caused heavy structural damage; prosecutors note the person could face up to 20 years in prison if convicted. Federal, state and local officials are investigating amid a rise in antisemitic attacks nationwide.

Defense Department Tests Device Linked to "Havana Syndrome": The Defense Department has spent more than a year testing a device purchased in an undercover operation that some investigators suspect could explain a string of mysterious illnesses affecting U.S. diplomats, intelligence officers and service members often described as "Havana Syndrome." Sources say the device, bought for millions in the final days of the Biden administration, produces pulsed radio waves—a mechanism some officials and academics have speculated might be responsible. The illnesses first emerged in 2016 among U.S. diplomats in Havana, Cuba, and similar cases have since been reported worldwide.

Quick Hits:

• An elite tier of passports offers visa-free travel to dozens of countries and expedited border processing.
• The Department of Homeland Security plans to invest $115 million in counter-drone technology to secure the World Cup and other major events.
• Scientists described more than 125 new plant species and 65 new fungi in 2025 — a look at some of the year’s most notable discoveries.
• Job hunting tips: practical strategies to help you stand out in a difficult market.
• CNN’s Richard Quest tried eating fungi on camera — it takes technique and a willingness to use your fingers.
• Check your local forecast for today’s weather.
• At the Harbin Ice Festival, giant ice sculptures transform the city into a winter spectacle.

Today's edition of "5 Things" was edited and produced by CNN’s Andrew Torgan.

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