Stocks fell to start the week as investors took a pause from last week's big rally and digested a slew of corporate and economic news.
The Dow Jones Industrials dumped 211.16 points to 33,536.70.
The S&P 500 reversed 35.68 points to 3,957.25
The NASDAQ plummeted 127.11 points, or 1.1%, to 11,196.22.
Trading was choppy throughout the day, with the market struggling for direction throughout the session and then sliding into the close.
Earlier in the day, the major stock indexes came off their lows after Federal Reserve Vice Chair Lael Brainard indicated the central bank could soon slow the pace of its interest rate increases, providing some comfort to the market.
The third-quarter earnings season is set to continue, with a heavy emphasis on retail. Big retailers Walmart, Home Depot, Target, Lowe's, Macy's and Kohl's are all slated to post numbers this week.
Shares of Qurate Retail, the media company that owns home shopping networks QVC and HSN, popped 7% Monday after famed investor Michael Burry revealed a fresh bet on the company.
Burry, known for calling the subprime mortgage crisis, bought $10 million worth of Qurate Retail, making it his second-biggest holding at the end of the third quarter, according to a new regulatory filing.
Prices for the 10-year Treasury fell, raising yields to 3.87% from Friday's 3.81%. Treasury prices and yields move in opposite directions.
Oil prices dropped $3.80 to $85.16 U.S. a barrel.
Gold prices jumped $5.40 to $1,774.80 U.S. an ounce.