Stocks opened on a down note Tuesday, as U.S. investors returned from a three-day weekend after the International Monetary Fund lowered its global growth forecast and China reported downbeat economic data.
The S&P 500 fell 15.91 points, or 0.6%, to 2,654.80, while the Dow Jones Industrial Average declined 170.48 points, or 0.6%, to 24,535.89. The Nasdaq Composite dropped 51.77 points, or 0.7%, to 7105.45.
A negative finish would snap a 4-day winning streak for U.S. equities that analysts said had left markets technically overbought. Corporate results also remain in focus as fourth-quarter earnings season hits full stride. Shares of Dow component Johnson & Johnson fell 1.8% after the company reported fourth-quarter results.