(CNBC) -- The S&P 500 closed just above its 2018 low Tuesday as stocks struggled to keep a rebound alive throughout the session.
The S&P 500 finished just above flatline after trimming a more than 1 percent rally and falling into negative territory in afternoon trading. The Dow Jones Industrial Average also posted a slight gain after erasing its 300-point rally earlier in the session. Market participants pointed to growing fears of a government shutdown, a slide in oil prices and worries that the Federal Reserve is going too far with its rate-hiking plans.
New comments out of Washington appeared to spark the afternoon selling after Senate Majority Lead Mitch McConnell said that a proposed government funding plan was rejected by his Democrat colleagues.
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