Economic security

Stocks Hit 20-Month Low as D.C. Turmoil Weighs: Markets Wrap

U.S. stocks fell to the lowest since April 2017 as the turmoil in Washington rattled financial markets anew, pushing the S&P 500 to the brink of a bear market. Crude sank below $45 a barrel and the dollar tumbled.

The S&P 500 notched a fourth straight drop of at least 1.5 percent, a run of futility not seen since August 2015. It’s now down more than 19.8 percent from its September record and on pace for the worst monthly drop since 2008. Trading was 41 percent above the 30-day average in a session that’s normally subdued ahead of the Christmas holiday. The stock market closed at 1 p.m.

Investors looking to Washington for signs of stability that might bolster confidence instead got further rattled. President Donald Trump blasted the Federal Reserve, blaming the central bank for the three-month equity rout days after Bloomberg reported he inquired about firing the chairman.