Concerns about flagging consumer sentiment pushed down S&P 500 consumer discretionary stocks, which tumbled 2.8 percent.
Software, retail, telecom and computer hardware stocks also saw considerable weakness amid another broad based sell-off on Wall Street. The S&P 600 closed at 859.50 for a gain of 1.92 points or 0.22%. It has fallen 13.1 percent since its last record close on September 20. -Chinese trade dispute, low oil prices, a possible US government shutdown and the turmoil surrounding Britain's exit from the European Union.
The S&P 500 rose 13 points, or 0.5 percent, to 2,559.
Despite this, financial exchange company CME, which owns the Dow Jones stock and financial indices, gives it almost an 80 percent chance that the Fed will raise interest rates a quarter point following its Wednesday meeting, to somewhere between 2.25 and 2.5 percent - their highest levels in a decade, since the 2008 financial crisis.
Citing 'victory' Trump orders full troop withdrawal from Syria
That process seeks changes to Syria's constitution and government and possibly President Bashar al-Assad's ouster. Tom Tugendhat MP, the chair of the foreign affairs select committee, said Trump's move was a surprise.
Meanwhile, the 10-year Treasury note was yielding 2.86%, pulling back from its Friday values, indicating buying in government bonds and a so-called risk-off mode in the market with investors fleeing to the perceived risk government bonds.
Hackett, of Nationwide, said investors will be happy if the Fed adjusts its plans and projects fewer increases in interest rates next year. The Fed meets Wednesday and is widely expected to raise rates again.
British Prime Minister Theresa May said Parliament will vote January 14 on her deal setting terms for Britain's departure from the European Union. May insists she can save the deal, but pressure is mounting for either a vote by lawmakers or a new referendum on the issue.
Germany's DAX lost 0.9 percent.
The bump stock ban will soon be official
Survivors of mass shootings at a gay nightclub in Orlando, in Las Vegas and the Parkland school shooting all praised the decision. In March, Mr Trump said his administration would "ban" the devices, which he said "turn legal weapons into illegal machines".
"Investors are zeroing in on this idea of slower growth for 2019", said Michael Arone, chief investment strategist at State Street Global Advisors. France's CAC 40 and Britain's FTSE 100 both fell 1.1 percent.
EARNINGS BOOST: Oracle jumped 3.4 percent to $47.30 after reporting stronger profit for the latest quarter than analysts expected. Hong Kong's Hang Seng was 0.1 percent higher at 25,835.66. Natural gas dropped 7.8 percent to $3.53 per 1,000 cubic feet.
The NASDAQ acquired 30.18 points to 6,783.91, as Amazon, Apple and Netflix all traded higher. Silver added 0.8 percent to $14.76 an ounce.
Shares of rival insurer Cigna (CI) - which is in the process of merging with pharmacy benefits manager Express Scripts (ESRX) - and drugstore giant CVS (CVS), which recently acquired insurer Aetna - were lower Monday as well.
After signing Wilson Ramos, Mets to make Kevin Plawecki available via trade
Catcher Wilson Ramos will play in the National League East next season, albeit not with the Philadelphia Phillies . Ramos, who was an all star last season, will be an upgrade for the Mets behind the plate.
CURRENCIES: The dollar weakened to 112.39 yen from 112.52 yen in late trading Tuesday. The euro rose to $1.1350 from $1.1303.