Wall Street's three main stock indexes ended lower in choppy trading Tuesday as caution set in ahead of an anticipated interest rate cut from the Federal Reserve.

Investors are largely still pricing in a 25 basis-point cut from the U.S. central bank at the conclusion of its two-day meeting on Wednesday, to offset the deterioration in the U.S. labor market, evidenced by numerous recent economic indicators. Data on Tuesday showed that U.S. retail sales increased more than expected in August, but that did little to change rate cut expectations.

"Any kind of resilient economic data will only reaffirm the hawks on the FOMC ... and could give a little bit of fuel for (Fed Chair Jerome) Powell to come out as slightly more hawkish than the market is hoping for," said Ross Mayfield, investment strategist at Baird Private Wealth Management.

Investors also brushed off news that the U.S. Senate confirmed White House economic adviser Stephen Miran to the Fed Board and an appeals court rejected President Donald Trump's bid to fire Fed Governor Lisa Cook.

The S&P 500 utilities and real estate sectors led declines among peers. The CBOE Volatility Index climbed to its highest level in more than a week. Losses in UnitedHealth Group and Nvidia bogged down the Dow. Nvidia shares fell after Reuters reported weak demand in China for its new AI chip.

According to preliminary data, the S&P 500 lost 9.00 points, or 0.14%, to end at 6,606.28 points, while the Nasdaq Composite lost 15.60 points, or 0.07%, to 22,333.15. The Dow Jones Industrial Average fell 121.96 points, or 0.27%, to 45,761.49.

The S&P 500 and the Nasdaq closed at all-time highs on Monday after hitting intraday records in multiple sessions. The three main indexes have gained so far in September — a month traditionally deemed bad for U.S. equities.

Webtoon Entertainment soared after a deal with Disney to create a new digital comics platform to feature content from Disney's portfolio, including the Marvel and "Star Wars" franchises. Oracle rose after Trump said that the U.S. and China have a deal that will keep the short-video app TikTok operating in the U.S. and multiple news outlets, citing sources, said Oracle is part of the investor consortium.