Stocks closed down about 3% on Monday, though they finished above the lowest levels of the day.

By the numbers: The S&P 500 joined the Dow in shedding all the gains since President Trump's inauguration in 2017, a nod to how steep the market drop has been in an extremely short period of time.

Expand chart Data: FactSet; Chart: Axios Visuals

The big picture: Stocks swung sharply on Monday amid more Federal Reserve action to support an economy thrown into a tailspin thanks to the coronavirus pandemic and stalled progress on stimulus in Washington.