A bit of good news about the U.S. economy wasn’t enough to reverse stocks recent slide Tuesday as the major indexes closed slightly lower.
Stocks wavered most of the day before turning lower for good in the last 90 minutes of trading.
According to preliminary calculations, the Dow Jones industrial average ended 63.58 lower, or 0.50 percent, to 12,631.77. The S&P 500 finished off 7.70, or 0.58 percent, to 1,330.65. The Nasdaq was down 8.82, or 0.30 percent, to 2,893.76.
The Dow has closed down nine of the last 10 days.
The S&P fell for the eighth in 10 days. It closed below the 1,340 mark yesterday for the first time since early February. Some analysts believe sustained trading at that mark could signal a broader decline is about to begin.
There was some good news for investors. U.S. retail sales rose 0.1 percent in April, slightly below expectations. However, details in the Commerce Department's report indicating underlying strength in demand and a rebound in manufacturing activity in New York State calmed concerns that the economy was stalling.
But the political impasse in Greece and its implications for the euro zone may have weighted on the market. Attempts to form a government in Greece collapsed, sending European equities lower on the prospect that those opposed to the terms of an EU/IMF bailout and a German-led push for austerity could sweep to victory in new elections.
"The Greeks and Germans seem to be playing an enormous game of chicken. It is unsettling to the market that those who would rather renegotiate the existing agreement seem to be gaining strength after the election," said Wells Fargo's Manley.
Below, a panel of experts on CNBC's "Closing Bell exchange" discuss the days financial and trading headlines.
Reuters contributed to this story.