Stock market tumbles as coronavirus stimulus hangs in limbo
Exterior of the New York Stock Exchange, which closed the trading floor today. Photo: Angela Weiss via AFP
Stocks closed down about 3% on Monday, though they finished above the lowest levels of the day.
By the numbers: The S&P 500 joined the Dow in shedding all the gains since President Trump's inauguration in 2017, a nod to how steep the market drop has been in an extremely short period of time.
The big picture: Stocks swung sharply on Monday amid more Federal Reserve action to support an economy thrown into a tailspin thanks to the coronavirus pandemic and stalled progress on stimulus in Washington.
- The S&P fell 2.9%, while the Dow closed down 3.1% (or 582 points) and the Nasdaq fell a fractional 0.2%.