The Dow Jones Industrial Average fell 183.12 points, or 0.64%, to close at 28,462.14. The S&P 500 dropped 0.58% to 3,221.29. The Nasdaq Composite slipped 0.67 % to 8,945.99. Tech was the worst-performing sector among the 11 S&P 500 groupings.
Some of the biggest winners of the year, including Microsoft, Visa, Nike, and Procter & Gamble, were all in the red on Monday as investors took profits. Microsoft and Visa were among the top three gainers in the Dow this year, rallying 55% and 42%, respectively.
The South China Morning Post reported Monday that Chinese Vice Premier Liu He, the nation's top trade negotiator, will visit Washington this week to sign the agreement. The newspaper, citing a source briefed on the matter, said the Chinese delegation will stay in the U.S. for a few days until the middle of next week.
White House trade advisor Peter Navarro told Fox News on Monday that the signing will likely happen by next week or so with both sides waiting for the translation.
Investors will monitor consumer confidence data and home sales on Tuesday. Read more here.