Stocks took a pause on Tuesday from their big rally this month that has vaulted them back to record heights.
Treasury yields also dipped after a report showed U.S. shoppers spent less at retailers last month than economists expected. The numbers underscore how the coronavirus pandemic is worsening and threatening to drag the economy lower, at least in the near term.
Stocks that stormed higher this month on hopes that a vaccine or two may get the global economy back to normal next year receded amid the worries.
The S&P 500 fell 17.38 points, or 0.5%, from its record to close at 3,609.53.
The Dow Jones Industrial Average lost 167.09, or 0.6%, to 29,783.35.
The Nasdaq composite slipped 24.79, or 0.2%, to 11,899.34.
The Russell 2000 small-cap index rose 6.58, or 0.4%, to 1,791.91.
For the week:
The S&P 500 is up 24.38 points, or 0.7%.
The Dow is up 303.54 points, or 1%.
The Nasdaq is up 70.06 points, or 0.6%.
The Russell 2000 is up 47.87 points, or 2.7%.
For the year:
The S&P 500 is up 378.75 points, or 11.7%.
The Dow is up 1,244.91 points, or 4.4%.
The Nasdaq is up 2,926.74 points, or 32.6%.
The Russell 2000 is up 123.45 points, or 7.4%.
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