The Dow Jones Industrial Average lost 143.99 points, or 0.46 percent, to 31,391.52. The S&P 500 dropped 31.53 points, or 0.81 percent, to 3,870.29. The Nasdaq Composite Index decreased 230.04 points, or 1.69 percent, to 13,358.79.
Ten of the 11 primary S&P 500 sectors ended in red, with technology down 1.63 percent, leading the laggards. Materials rose 0.58 percent, the lone gaining group.
U.S.-listed Chinese companies traded mostly lower, with seven of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.
The above market reactions followed the major averages' best day in months as a rapid rise in bond yields stalled. On Monday, both the Dow and the Nasdaq registered their best single-day gains since November, while the S&P 500 index logged its best one-day rally since June.
Bond yields continued to be a focus on Wall Street. The yield on the benchmark 10-year U.S. treasury retreated from last week's highs, when it topped 1.61 percent. It fell to around 1.41 percent Tuesday afternoon.
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