Wall Street was closed on Monday due to Labor day. When the trading week – and the month – finally began, it offered declines on all three major indexes.
Industrial giant Dow Jones retreated 0.6 percent, while the broad S&P 500 fell 0.8 percent and Nasdaq's composite index closed at minus 0.9 percent.
All of the index-heavy so-called "magnificent seven" companies were among the losers. It went the worst for Google owner Alphabet, which retreated 2 percent. Semiconductor giant Nvidia closed at minus 1.8 percent and e-commerce giant Amazon at minus 1.6 percent.
This after a federal appeals court on Friday ruled that most of the tariffs that the Trump administration has introduced this year are illegal. Donald Trump has promised to appeal to the Supreme Court.
But the worst went for food giant Kraft Heinz, which, among other things, is behind the ketchup brand Heinz, which retreated 7 percent after the company announced that it will divide the business into two.
Financial icon Warren Buffett, who through his investment company Berkshire Hathaway owns 27.5 percent of the company and was behind the merger of Kraft and Heinz ten years ago, tells CNBC that he is "disappointed" with the division decision.
