A Bloomberg report that Chinese officials were reluctant to agree to US President Donald Trump's broad trade deal cast a pall over investors, after weak US economic data last week raised concerns about the economic outlook.
Banks and industrial companies were also among the biggest losers.
As Monday's talks got underway, the U.S. Agriculture Department reported more soybean exports to China, the latest in a recent flurry of buying by Beijing. -China trade talks pushed stocks lower Monday as political turmoil roiled Washington.
The tensions have threatened global economic growth.
The S&P 500 posted 10 new 52-week highs and 1 new low; the Nasdaq Composite recorded 30 new highs and 91 new lows. The Sensex in India picked up 0.4% to 37,816.91. The index finished the week with a 0.3% loss. Stocks in Asia ended mixed.
Bond prices fell. The yield on the 10-year Treasury rose to 1.54% from 1.51%.
MARKET NERVES: The market is coming off three straight weekly losses.
Volume on USA exchanges was 5.73 billion shares, compared with the 7.23 billion average for the full session over the last 20 trading days.
"A USA recession remains unlikely, as manufacturing only accounts for around 10% of the economy and sector sentiment is still in expansion territory, but we think it is unlikely stocks will move much higher from here without better economic data or a ceasefire in the trade situation", said UBS Global Wealth Management chief investment officer Mark Haefele in a weekly preview. The job market data for September showed the USA unemployment rate dropped to a five-decade low and employers were adding jobs at a healthy clip.
"The president is defending the American economy, he will continue to defend the American economy".
"And that's why the markets are treading water right now, waiting to see if another shoe drops", Roth said.
Technology stocks, including Microsoft and Apple, led the market lower. Nonrevolving debt $19.8 billion or 7.75% while revolving debt fell $1.9 billion or 2.25%.
Financial sector stocks headed lower, giving up early gains.
In New York, the Dow Jones industrial average was down 95.70 points at 26,478.02. The Russell 2000 index of smaller company stocks rose 1% to 1,500.70.
In the U.S., General Motors (-1.3%) dips at the open as labor talks with the United Auto Workers took "a turn for the worse" over the weekend. The negotiations are hitting a big snag over product commitments for USA factories, a union official wrote in an email to members. Dish pulled the broadcast network from 17 markets in September.
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