The Dow Jones Industrial Average fell 112.24 points, or 0.31 percent, to 36,319.98. The S&P 500 decreased 16.45 points, or 0.35 percent, to 4,685.25. The Nasdaq Composite Index slid 95.81 points, or 0.60 percent, to 15,886.54.
Six of the 11 primary S&P 500 sectors ended in green, with utilities up 0.44 percent, leading the gainers. Consumer discretionary slipped 1.35 percent, the worst-performing group.
GE shares jumped about 6 percent after the company announced plans on Tuesday to split into three separate companies focused on aviation, healthcare and energy.
U.S.-listed Chinese companies traded mostly lower with six of the top 10 stocks by weight in the S&P U.S. Listed China 50 index ending the day on a downbeat note.
On the economic front, the U.S. Producer Price Index for final demand rose 0.6 percent in October, after a 0.5-percent increase in September, the U.S. Bureau of Labor Statistics reported on Tuesday. The reading was in line with market expectations.
On Monday, U.S. equities finished higher with all of the major indexes hitting new record high closes, following the passage of a long-delayed U.S. infrastructure bill.
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