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A group of U.S. lawmakers ordered a sweeping investigation into the business and political affairs of President Donald Trump Monday that includes a request for documents from more than 80 key associates, agencies and entities, including Donald Trump Jr. and Trump Organization executive Allen Weisselberg.

The Democratic-lead House Judiciary Committee said the probe will focus on allegations of corruption, obstruction of justice and other potential abuses of power in the Trump administration linked to the broader investigation into Russia meddling in the 2016 presidential election. The new investigation, which includes a request for documents from former Attorney General Jeff Sessions, former White House counsel Don McGhan, the White House and the FBI, marks the most significant move to date by Democratic lawmakers towards potential impeachment proceedings against the President.  

"We have seen the damage done to our democratic institutions in the two years that the Congress refused to conduct responsible oversight," House Judiciary Committee Chairman Jerrold Nadler said in a statement. "Congress must provide a check on abuses of power."

"President Trump and his administration face wide-ranging allegations of misconduct that strike at the heart of our constitutional order," Nadler said in the letter seeking documents from 81 agencies, entities and individuals. 

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Following news of the expanded probe, the Dow Jones Industrial Average was down around 300 points on the session, a 420-point swing from the session highs, while the S&P 500 slid 21 points to 2,785.

White House Press Secretary Sarah Sanders said the House Judiciary Committee's letter "has been received by the White House", adding that "the Counsel's Office and relevant White House officials will review it and respond at the appropriate time."