The drop, which erased 129 points from the Dow Jones industrial average, came on the first trading day after the index closed above 14,000 for the first time since the financial crisis.
The Dow ended at 13,880 Monday, down 0.9 percent.
Other indexes fell slightly more. The Standard & Poor's 500 index fell 17 points to end at 1,495, a loss of 1.2 percent.
Technology stocks fell more than other sectors, pulling the Nasdaq lower. The technology-heavy index fell almost 48 points, or 1.5 percent, to 3,131.
Falling stocks outnumbered rising ones nearly four to one on the New York Stock Exchange. Volume was average, 3.4 billion shares.
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