U.S. equities closed lower on Tuesday as Wall Street hedged bets ahead of key events slated for later this week.
The Dow Jones industrial average fell about 45 points, with Boeing contributing the most losses. The S&P 500 closed 0.28 percent lower, with consumer discretionary leading decliners. The Nasdaq composite lagged, slipping 0.33 percent.
The three indexes briefly a small bid in afternoon trade after ABC News reported, citing a source, that former FBI director James Comey will stop short of saying President Donald Trump obstructed justice in the bureau's investigation of ex-national security advisor Michael Flynn's Russian ties, but failed to follow through.
"The market took a small sigh of relief, but there's still some caution because we don't know what's going to happen when Comey testifies," said Adam Sarhan, CEO of 50 Park Investments.
Comey is slated to testify Thursday in front of the Senate intelligence committee, marking his first public comment since being fired by Trump.
"The Comey testimony may give us something to talk about. I think it could be a he-said-he-said situation which could put off what can be done in Washington," said Bruce McCain, chief investment strategist at Key Private Bank.
Investors have remained vigilant about any new developments on the situation. Nevertheless, the major large-cap indexes have made on making new highs recently as pullbacks present new buying opportunities.