Stocks dipped in midday trading as traders worried that the Trump White House may not be able to help businesses as much as once thought.
The defeat of the Republican-backed health care reform bill on Friday raised concerns that business-friendly policies like tax cuts and looser regulations may have a tougher time getting passed.
Banks and small-company stocks, which have outperformed the rest of the market since the election, went into reverse. Goldman Sachs gave up 1.6 percent Monday.
Bond prices rose, sending yields lower.
The Standard & Poor’s 500 lost 8 points, or 0.3 percent, to 2,336, paring some of its earlier losses.
The Dow Jones industrial average gave back 80 points, or 0.4 percent, to 20,517. The Nasdaq composite declined 11 points, or 0.2 percent, to 5,817.