Stocks declined for a fifth straight session, with the S&P 500 notching its longest losing streak this year, as investors paused their buying after strong quarterly gains.

The Dow Jones Industrial Average slipped 61.33 points, or 0.4%, to 15273.26, marking its longest string of losses since the six-session stretch ended Aug. 21.

The S&P 500 index shed 4.65 points, or 0.3%, to 1692.77, its fifth consecutive loss, and the Nasdaq Com posite Index lost 7.16 points, or 0.2%, to 3761.10.

The S&P 500 has slid 1.9% since it closed at a record high of 1725.52 last Wednesday following the Federal Reserve's surprise decision to keep its $85-billion-a-month bond-purchasing program intact.

"We've had a huge move in the market for the quarter," said Andrew Slimmon, managing director with Morgan Stanley Global Investment Solutions, which manages $2.4 billion. "I don't think a lot of fresh cash is coming in. We're just in a holding pattern."