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 late-day swing, the magnitude of which hasn’t been seen for years.

Stocks, which had already been trading off their highs of the session in the final hour of trading, 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.