The Dow Jones Industrial Average dropped 464 points Thursday, bringing its losses to more than 1,700 points since Friday.
The benchmark S&P 500 index, already on pace for its biggest percentage decline in December since the Great Depression, hit its lowest level since July 2017.
In addition to the Dow's 1.8 percent drop, the Nasdaq closed down 195 points for a 3 percent drop and the S&P 500 closed down 50 points for a 2.06 percent drop.
The revived possibility of a shutdown worsened the downbeat mood on markets after the Federal Reserve announced another interest rate hike on Wednesday and made only subtle adjustments to the course of monetary policy tightening next year despite rising worries about global growth and a big pullback in the stock market.
Investors are responding to a weakening outlook for the US economy by selling stocks and buying ultra-safe USA government bonds. The Dow is off 10 percent for December, and the Nasdaq is down more than 19 percent since August 29. The S&P 500, which tracks larger companies, is down 7.7 percent.
Investors fear a recession is coming, and barring huge gains during the upcoming holiday period, when trading is usually quiet, this will be the worst December for stocks since the 1930s.
Dow Dives to Lowest Point in 2018 After Fed Rate Hike
Out of the 11 major S&P 500 sectors, only the Technology and the Industrials are staying in the negative territory.
This photo made with a slow shutter speed shows the exterior of the New York Stock Exchange on Thursday evening, December 20, 2018.
After early gains, bond prices headed lower.
Oil prices continued to retreat. Amazon, Facebook, Apple, Netflix, and Google's parent company, Alphabet, have seen their market values fall by hundreds of billions of dollars.
On Friday the price of US crude slipped 0.6 percent to $45.59 a barrel in NY. The index broke 23,000 in its downward slide for the first time in over a year on Thursday and shows no sign of bouncing back anytime soon, having lost a total of 1,655 points in its worst week since October 2008.
The Dow is down 1,240.91 points, or 5.1 percent. The yield on the two-year Treasury rose to 2.87 percent from 2.65 percent, while the 10-year note rose to 2.80 percent from 2.77 percent.
Machado Won't Make Decision Until After The New Year
So far this winter, the Phillies have added a former All-Star in the outfield and one in the infield as well. The first is Machado has been said, according to Heyman, to prefer becoming a Yankee, going back to August.