The Dow Jones industrial average fell 9.05 points, or 0.7 percent, to close at 12,501.052. During an afternoon rally, the Dow struck an intraday high of 12,529.
On the New York Stock Exchange, 1,451 stocks advanced and 1,828 declined on volume of more than 1.5 billion shares.
The Standard & Poor's 500 index fell 2.11, or 0.15 percent, to 1,424.73, while the Nasdaq composite index fell 5.65, or 0.23 percent, to 2,425.57.
Reports on December consumer confidence, November existing home sales and Midwest business activity were all stronger than expected, leading some traders to imagine the Fed might raise interest rates to slow economic growth.
The 10-year Treasury note fell 10/32, or $3.13 per each $1,000 invested, to yield 4.696 percent, while the 30-year note lost 16/32, yielding 4.818 percent.
The euro traded at $1.3146 from $1.3125 Wednesday and the dollar was at 118.91 yen from 118.78 yen late Wednesday.
On the London Stock Exchange, the FTSE 100 Index edged down to 6,240.90, off 0.1 percent. Japan's Nikkei 225 Index edged up 0.01 percent to finish at 17,224.81.
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