The Dow Jones Industrial Average late-morning Thursday fell to session lows after President Donald Trump appeared reluctant to sign a bill that would extend funding for the government, and avoid a partial shutdown. The Dow was down 260 points, or 1.1%, at 23,059, the S&P 500 index declined by 1% at 2,481, while the Nasdaq Composite Index fell 1.4% at 6,542, and was within reach of touching a bear-market level, usually defined as a drop of at least 20% from a recent peak. Markets were already on edge after investors were disappointed that the Federal Reserve didn't sufficiently communicate a dovish stance after it raised benchmark rates by a quarter of a percentage point on Wednesday to a range of 2.25% to 2.50%, and lowered its guidance for coming rate increases. CNBC on Thursday (https://www.cnbc.com/2018/12/ 20/senate-passes-bill-to-avoid-shutdown-as-trump-talks-border-wall.html) reported that Trump was requesting funding for a U.S. - Mexico border wall as part of the spending package with steel slats or a wall rather than just fencing. It appears unclear ahead of a midnight Friday deadline to keep the government running if the bill will be signed, contributing to Wall Street's anxieties. The president is expected to have a meeting with House members.
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