U.S. stocks sharply pared their gains in the final minutes of trading on Monday, with major indexes going from a sharp and broad-based advance to nearly negative territory in a matter of minutes. Stocks, already trading off their highs of the session, further pared gains amid a report by the New York Times that the Federal Bureau of Investigation had raided the office of Michael Cohen, President Donald Trump's personal lawyer. While the Dow Jones Industrial Average DJIA, +0.51% and the S&P 500 SPX, +1.05% had been up more than 1% earlier in the session, and the Nasdaq COMP, +1.71% had been up more than 2%, all three ended at their lows of the session. The Dow closed up 0.2% while the S&P ended 0.3% higher. Such a slump in such a short period of time is extremely rare; according to Bespoke Investment Group, the swing represented the worst last hour of trading since May 2014. While political uncertainty may have been the driver of the decline, politics had also been the primary cause behind the earlier rally: stocks had gained on signs that trade tensions between the U.S. and China may be easing.