NEW YORK (TheStreet) -- Stocks fell back from records on Tuesday, after the S&P 500 and Dow Jones Industrial Average nabbed fresh all-time highs and the Nasdaq closed above 5,000 for only the third time in history and the first time in 15 years.
The S&P 500 was down 0.55% on Tuesday, the Dow slipped 0.52%, and the Nasdaq fell 0.77%.
The health care sector was the worst performer on the S&P 500 with pharmaceutical company Mylan (MYL) - Get Report the biggest laggard. The Pennsylvania-based company fell 3% after reporting fourth-quarter earnings of $1.05 a share, in line with analysts' estimates. Other health care stocks were lower including Celgene (CELG) - Get Report, Gilead Sciences (GILD) - Get Report and Pfizer (PFE) - Get Report.
Ford (F) - Get Report was among the worst performers on the S&P 500 after reporting that U.S. sales in February tumbled 1.9% from the year earlier. A 4% increase in truck sales wasn't enough to offset an 8.1% decline in car sales and a 2.3% drop in utilities sales. Shares were down 2.8%.
Losses were broad-based across all sectors, including consumer discretionary, despite better-than-expected results from retailers AutoZone (AZO) - Get Report , Best Buy (BBY) - Get Report and Dick's Sporting Goods (DKS) - Get Report.
AutoZone surged 1.8% after reporting earnings of $6.51 a share, 13 cents better than expected. Quarterly sales jumped 7.5% to $2.14 billion, just above estimates.
Best Buy was up 1.1% as earnings beat estimates thanks to strong growth of more than 3% in its domestic segment. The retailer also announced a $1 billion buyback program to be carried out over the next three years.
Dick's rose 1% after beating analysts' estimates on its top- and bottom-lines. Comparable-store sales climbed 3.4% in its fourth quarter.
Shares of General Electric (GE) - Get Report fell 0.8% following a Barclays analyst's suggestion that CEO Jeff Immelt may step down within the next year as investors seek change at the industrial giant, Bloomberg reported.
European markets were lower, despite better-than-expected data from Germany and Spain. Germany, the largest economy in the eurozone, saw retail sales climb 2.9% in January from a month earlier, far better than an expected 0.3% decline. Spain's economy was looking in better shape after monthly jobless claims fell 13,538 in February.
The Aussie dollar bounced back after the Reserve Bank of Australia unexpectedly kept its key benchmark rate at 2.25%. The dollar was up 0.63% to 78.15 cents against the U.S. greenback. The U.S. dollar was slightly higher against other major currencies including the euro, British pound and Swiss franc.
Citigroup (C) - Get Report was slightly higher after Springleaf Financial (LEAF) - Get Report agreed to purchase its OneMain Financial arm for $4.25 billion in an all-cash deal expected to close in the third quarter. Springleaf shares surged 32.3%.
Barclays (BCS) - Get Report reported better-than-expected profit in 2014, up 12% from a year earlier. However, shares slipped 1.9% after the company took an additional $1.2 billion charge tied to its currency-rigging probe.
Lumber Liquidators (LL) - Get Report rose 8.8% after Janney Capital Markets upgraded the stock to "buy" from "neutral." The stock fell more than 20% on Monday following a 60 Minutes report that raised health concerns about some of its laminate flooring products.
-- Written by Keris Alison Lahiff in New York.