U.S. stocks closed lower on Tuesday as investors were digesting the latest comments from Federal Reserve officials. The Dow Jones Industrial Average was down 61.85 points, or 0.29 percent, to 21,467.14. The S&P 500 lost 16.43 points, or 0.67 percent, to 2,437.03.
The Nasdaq Composite Index erased 50.98 points, or 0.82 percent, to 6,188.03.
Boston Fed President Eric Rosengren said on Tuesday the current low-rate environment was likely to remain for some time, adding that low rates handicap the central bank's ability to "offset negative shocks."
Meanwhile, Fed Vice Chair Stanley Fischer said that while the U.S. and other nations have taken actions to strengthen their housing finance systems, more needs to be done to prevent a future crisis, according to CNBC.
New York Fed President William Dudley said on Monday that the central bank inflation should pick up as wages rise along with continuing improvement in the labor market.
The officials' words came in less than a week after the Fed raised its interest rates for the fourth time since December 2015.
Investors are overall skeptical the central bank will raise rates again in September.
Market expectations for a September-hike are just 13 percent, according to the CME Group's FedWatch tool.
The market was also under pressure on Tuesday as the energy sector dropped nearly 1.3 percent on falling oil prices. U.S. crude for July delivery fell 2.19 percent to settle at 43.23 U.S. dollars a barrel amid signs of rising production.
With little data came out on Tuesday, investors were also awaiting the closely-watched House Speaker Paul Ryan's speech to get more information about the potential tax reform in the country.
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