The Federal Bureau of Investigation on Monday raided the office of Michael Cohen, long-time personal lawyer of President Donald Trump, according to the New York Times.

At the referral of special counsel Robert Mueller, the agency obtained search warrants from the U.S. Attorney’s Office and proceeded to seize emails, tax documents, business records and other files related to varying issues, including payments to porn actress Stormy Daniels.

Why It’s Important

Confiscated records include communication between Trump and Cohen. The raid and tip appear unrelated to Mueller’s probe into Russia’s election interference.

Cohen acknowledged using his personal funds to pay Daniels $130,000 days before the November 2016 Election Day. Daniels, who alleges to have had an affair with Donald Trump in 2006, said in a new court filing Monday she wouldn't have signed a hush agreement in 2016 had she known that Trump himself wasn't a party to it.

What's Next

The focus of the FBI investigation is unknown, but is said to span a range of topics. White House officials have repeatedly denied Trump had an affair with Daniels.

The markets had been declining by the time news hit shortly before the 4 p.m. ET close. The Dow closed up about 46 points at 23,979, while the S&P 500 closed around 2,613.

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