The Dow Jones Industrial Average increased 36.31 points, or 0.12 percent, to 29,239.19. The S&P 500 decreased 23.55 points, or 0.65 percent, to 3,588.84. The Nasdaq Composite Index shed 115.91 points, or 1.1 percent, to 10,426.19, its lowest close since July 2020.
Tuesday's moves marked the fifth session in a row of declines for the S&P 500 and the Nasdaq.
Seven of the 11 primary S&P 500 sectors ended in red, with communication services and technology down 1.63 percent and 1.52 percent, respectively, leading the laggards. Real estate climbed 1.02 percent, the best-performing group.
"There was no new news per se, other than the fear that inflation, and the Fed's continued interest rate hikes, will slow the economy into a deep recession," Kevin Matras, executive vice president at Zacks Investment Research, said in a note Tuesday.
Jamie Dimon, chief executive officer of JPMorgan Chase, on Monday warned that the United States is headed for a recession in the next six to nine months and stocks could slide much further.
Investors are awaiting a slew of economic highlights later this week, including the September U.S. consumer price index report on Thursday and the retail sales data on Friday.
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