Hello President Pence?

House begins Trump impeachment inquiry  

Democrats in the U.S. House formally launched an impeachment inquiry into President Donald Trump Tuesday over new allegations that he pressured Ukrainian President Volodymyr Zelensky to investigate rival Joe Biden and his son Hunter, withholding nearly $400 million in U.S. aid as leverage. Mr. Trump on Twitter called the inquiry "presidential harassment" and a "witch hunt," and agreed to release a transcript of his July call with Mr. Zelensky, the New York Times reports.

Reuters reports that the six congressional committees currently investigating the president will continue their work, and "then decide whether the House Judiciary Committee should draft articles of impeachment." That means Mr. Trump could become only the fourth president in American history to face impeachment, CBS News notes. Market mavens like CNBC's Jim Cramer don't seem too worried about the impact on business ("we've seen this movie before"), although the controversy has sent impeachment odds soaring among online prediction markets, according to Bloomberg.