Stocks came in for another beating on Monday after Democrats blocked a congressional spending package aimed at cushioning the blow from the coronavirus pandemic.
The Dow Jones Industrial Average dropped by 3.9 percent. Earlier it was down by as much as 5 percent and at one point lost all its gains since the election of Donald Trump in 2016. The S&P 500 fell 3.64 percent. The Nasdaq Composite slid by a milder 1.35 percent.
Stocks dropped in early trading Monday after Capitol Hill Democrats pushed back against the economic rescue package proposed by Republican lawmakers and supported by the Trump White House. They recovered some of those losses in the early afternoon until Democrats once again blocked progress on the Senate bill by voting against a procedural measure.