U.S. stocks rebounded briefly after comments by a Federal Reserve official eased investor worries that the central bank was locked into raising rates in 2019. But an hour later, the Dow had given most of that up.

Then the political gridlock in Washington put the market in a downward spiral, as President Trump held fast on his demands for more border security funding and Democrats resisted, the government moved closer to a shutdown.

The Dow Jones industrial average lost 415 points, or 1.8 percent, and closed at 22,443. The Standard & Poor’s 500-stock index fell 2.1 percent. And the tech-laden Nasdaq was off 3 percent.