Microsoft Corp, Apple Inc and Amazon.com fell, weighing more than any other S&P 500 stock.
The S&P 500 financial and industrial sector indices reached record levels during the day. Most of the other S&P 500 sectors declined.
The Russell 1000 value index, which is heavily dependent on sectors linked to the economy, has increased.
The Dow Jones Industrial Average fell 119.08 points, or 0.38%, to 31,272.44 points, the S&P lost 50.46 points, or 1.30%, to 3,819.83 points, and the Nasdaq Composite Index declined 361.04 points, or 2.7%, to 12997.75.