U.S. stocks fell Tuesday, a day after one of the biggest comebacks on record for the major averages.
The Dow Jones Industrials came off their lows of the morning, but still had 320.14 points worth of catching up to do on Monday's close to 34,044.36.
The S&P 500 gave back 77.49 points, or 1.8%, to 4,332.64.
The NASDAQ stumbled 368.15 points, or 2.7%, to 13,486.97.
The Dow on Monday rallied from a more than 1,100-point loss to close up higher and snap a six-day losing streak. The NASDAQ reversed a 4.9% decline from earlier in the day to finish positive — its biggest rebound since 2008. The S&P 500 also rallied from major losses to close up.
The selling on Tuesday was broad with less than 10 stocks in the S&P 500 trading in positive territory.
General Electric was among the biggest decliners on the benchmark index with a 7.1% loss after the company topped quarterly earnings expectations, but missed revenue estimates. Johnson & Johnson was among the top losers on the Dow after a weak quarterly report, falling more than 1%.
American Express was the top gainer on the S&P 500 after an earnings beat, rising 8.92%.
The Federal Reserve's two-day policy meeting begins Tuesday as investors look for updates on when the central bank will raise interest rates and by how much. Market participants expect the Fed to signal a rate hike as soon as March and more policy tightening on the table to address high inflation.
Investors also monitored geopolitical tension at the Russia-Ukraine border. President Joe Biden spoke with European leaders Monday amid fears of a possible Russian invasion of Ukraine.
Prices for 10-year Treasurys regained strength, lowering yields to 1.76% from Monday's 1.77%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.50 to $84.81 U.S. a barrel.
Gold prices brightened $7.30 to $1,849.00 U.S. an ounce.