The Dow Jones Industrial Average fell on Tuesday amid lingering concerns about the delta variant's impact on the economic reopening.
The 30-stock index plummeted 283.52 points to 35,085.57, dragged down by a 1.9% loss in Boeing's stock.
The S&P 500 lost 17.36 points to 4,518.07.
The NASDAQ Composite 6.32 points, to 15,369.84.
Goldman Sachs downgraded its economic outlook over the weekend, citing the delta variant and fading fiscal stimulus. Goldman now sees 5.7% annual growth in 2021, below the 6.2% consensus. The firm cut its fourth-quarter gross domestic product outlook to 5.5%, down from 6.5%.
Boeing shares were lower after the Wall Street Journal reported deliveries for the 787 Dreamliner would likely be further delayed. PPG Industries, a paint maker, warned that sales may fall short this quarter because of logistics issues and higher commodity costs. Shares of PPG Industries ticked 2% lower in early trading.
Drug stocks including Johnson & Johnson, Merck and Amgen were slightly lower after Morgan Stanley downgraded the three stocks.
Prices for 10-Year Treasurys sagged, raising yields to 1.38% from Friday's 1.32%. Treasury prices and yields move in opposite directions.
Oil prices reversed 52 cents to $68.77 U.S. a barrel.
Gold prices plunged $35.60 to $1,798.10 U.S. an ounce.