Despite the downturn for stocks that had mostly been in an uptrend, Wall Street strategists mostly see the updraft for stocks as intact.
The Standard & Poor's 500 index rose 1 point, or 0.1 percent, to 2,823.
"We suspect that signs of an economic slowdown will become apparent later this year, setting the stage for a significant correction in the S&P 500 before the end of 2019", he says.
"The upcoming results should provide further evidence of a strong earnings season under way", Peter Cardillo, chief market economist at First Standard Financial in NY, wrote in a client note. "You're also seeing some cracks in the global story with interest rates rising".
Heading into the final hour of trade, the Dow Jones Industrial Average was down 98.85 points, or 0.37 per cent, at 26,517.86.
Boeing shares added 5.9%, contributing more than 140 points to the Dow industrials, after the aerospace giant forecast a higher profit margin and a big rise in cash generated from record jetliner deliveries. The Nasdaq Composite closed at 7,402.48 for a loss of -64.02 points or -0.86%.
WELLINGTON - The S&P/NZX50 Index rose 16.17 points, or 0.19 per cent, to 8327.59 on Monday.
Shares of Apple fell as much 2.6 percent after the Nikkei reported the company will cut production of its flagship gadget in half.
Orca Whales Show They Can Imitate Human Speech
The team tested a 14-year-old female orca called Wilkie with multiple sounds in different scenarios, including using loudspeakers. A high-pitched and eerie voice uttering the name " Amy " is quite clear in the audio released by the study's researchers.
Investors were phased by the two day decline on Wall Street, as Gennadiy Goldberg, interest rates strategist at TD Securities in NY said this pushed people in to the arms of the safety of U.S. government bonds.
The CBOE Volatility index, widely considered the best fear gauge in the stock market, rose 6.86 percent to 14.79.
Currently, the markets have priced in three rate hikes this year, and while analysts do not expect the first of them to come this month, they expect the Fed to strike a more hawkish tone.
US Treasury yields were at multi-year highs, extending gains from last week on the back of strong economic data and as investors braced for major central banks to step back from ultra-easy monetary policies. The Fed is expected to leave interest rates unchanged but could offer fresh clues about its 2018 outlook. After six straight weekly declines, the dollar index was on track to fall about 3.4 percent for the month, which would be its biggest monthly fall since March 2016. They had risen about 2 percent premarket, aiming for their 2002 highs, after the company's strong results and forecast.
Declining issues outnumbered advancing ones on the NYSE by a 4.17-to-1 ratio; on Nasdaq, a 2.98-to-1 ratio favoured decliners.
The S&P 500 posted 126 new 52-week highs and three new lows; the Nasdaq Composite recorded 153 new highs and 29 new lows.
On Monday the Dow closed 177 points down - its worst day since September.