In the Windows Command Prompt the ^
is used to escape the next character on the command line. (Like \
is used in strings.) Characters that need to be used in the command line as they are should have a ^ prefixed to them, hence that's why it works for the newline.
For reference the characters that need escaping (if specified as command arguments and not within quotes) are: &|()
So the equivalent of your linux example would be (the More? being a prompt):
C:\> dir ^
More? C:\Windows