Investors targeted recent top performers, particularly energy shares, which were also hit by a fall in oil prices. The S&P energy index <.GSPE> dropped 2.4 percent Tuesday, while oil futures lost more than 2 percent.
The Dow Jones industrial average <.DJI> edged up 0.15 points, or 0.00 percent, to 12,807.51. The Standard & Poor's 500 <.SPX> fell 4.60 points, or 0.34 percent, to 1,356.62. The Nasdaq Composite Index <.IXIC> lost 22.46 points, or 0.78 percent, to 2,841.62.
NYMEX-NEW YORK, May 3 (Reuters) - U.S. crude oil futures fell for a second day in a row on Tuesday as the dollar strengthened from a three-year low against a basket of currencies, encouraging investors to sell riskier assets.
Prices declined amid global demand worries and as weekly inventory data was forecast to show that U.S. crude and refined product stocks rose last week.
On the New York Mercantile Exchange, crude for June delivery
CBOT-U.S. soybean futures ended sharply lower on Tuesday, with
the July contract down 2.19 percent, following a steep descent
in crude oil futures, traders said. The U.S. dollar was firm late, adding to bearish momentum in soybeans.
FCPO-KUALA LUMPUR, May 3 (Reuters) - Malaysian palm oil futures ended almost flat on Tuesday after a long weekend holiday as gains from a rebound in exports last month were erased by prospects of higher output.
But continued growth in exports this month could reverse declines in palm oil, which notched its third straight month of losses in April, and rein in strong growth in Malaysian stocks.
The tropical oil has lost 13 percent so far this year on expectations of better yields after two years of declines, a lull in palm oil and an ample South American soy crop flowing into markets.
Overall traded volume stood at 14,358 lots at 25 tonnes each, much lower than the usual 25,000 lots as traders take their time to get back into the market after the holidays.
REGIONAL EQUITIES-COLOMBO, May 3 (Reuters) - Southeast Asian stock markets fell on Tuesday, led by financials and resources as worries over the fragile nature of the global economic recovery and the prospect of further monetary tightening weighed on sentiment.
Thailand <.SETI>, the region's best performer this year, shed 2.12 percent, Indonesia <.JKSE> fell 0.9 percent from the previous session's record high and Singapore <.FTSTI> closed 0.8 percent weaker at a two-week low. Malaysia <.KLSE> and the Philippines <.PSI> edged down 0.2 percent.
Malaysia received a net inflow of $16.2 million and Thailand saw a net foreign inflow of $23.8 million, strock exchange data for the countries showed.
