The market was uneasy after the Conference Board said its index of consumer confidence fell to 105.4 from 105.9 in September. The reading was well below the 107.8 analysts expected and raised concerns on Wall Street about the strength of consumer spending, and in turn, the economy, in the coming months.

Today's trading recalled Monday's session, when stocks meandered as investors digested mixed economic data and a weak sales report from Wal-Mart Stores Inc. that also made them question consumer sentiment.

"The consumer is spooking the equity markets and driving the bond market to rally," said Andrew Richman, fixed-income strategist at SunTrust Bank's personal asset management arm. However, Richman sees the markets as being able to shrug off some of the news as hopes grow that the Federal Reserve will cut short-term interest rates next year if inflation continues to dissipate and the economy slows.

According to preliminary calculations, the Dow Jones industrial average fell 5.77, or 0.05 percent, to 12,080.73. The Dow had fallen by more than 52 points earlier in the session.