Stocks fell Tuesday, the first trading day of the week, as a rally that drove the market to levels not seen in more than a year took a breather.
The Dow Jones Industrials fell 245.25 points to end the session at 34,053.87.
The S&P 500 lost 20.79 points to 4,388.30.
The NASDAQ index finished negative 22.28 points to 13,607.29.
Markets in the U.S. were closed Monday for Juneteenth.
Decliners outpaced advancers on the New York Stock Exchange two to one on Tuesday. Energy was the biggest laggard in the S&P 500, with the sector falling more than 1%. Meanwhile, Intel, Nike and Boeing dragged on the Dow, each down by more than 3%.
In contrast, homebuilders outperformed following a stronger-than-expected housing report. PulteGroup, D.R. Horton and Lennar were each higher by more than 1%. Elsewhere, Nvidia also bucked the trend, up more than 1% while the major indexes sagged.
In earnings, investors will look toward a quarterly report from shipping giant FedEx on Tuesday after the closing bell.
U.S. housing starts topped estimates in May. There were 1.63 million starts last month, which was higher than the 1.39 million housing starts expected by economists polled by Dow Jones.
Prices for the 10-year Treasury recovered, lowering yields to 3.73% from Friday's 3.77%. Treasury prices and yields move in opposite directions.
Oil prices fell 84 cents to $70.94 U.S. a barrel.
Gold prices dulled $21.80 to $1,949.40 U.S. an ounce.