Other indexes also dropped. The Dow Jones industrial average slid 0.1 percent, and the Nasdaq composite fell 0.9 percent.

Another uptick in interest rates also seemed to dampen what had started out as a relatively decent day for stocks. The yield on the 10-year Treasury note rose to 2.84 percent after lackluster demand in an auction of $24 billion worth of the benchmark government bonds. Yields on 10-year Treasuries, which serve as the foundation for a range of consumer borrowing rates, are near their highest levels since January 2014.

The steady climb in interest rates has gained pace in 2018. And it has become a concern for investors who believe the low interest rates since the financial crisis have been a cornerstone of the long bull market for stocks. Interest rates on shorter-term Treasury bonds, such as the two-year note, have also risen sharply.

Those shorter-term bond yields tend to be sensitive to changing expectations surrounding monetary policy, another source of worry in recent days.