NEW YORK, Aug. 5 (Xinhua) -- U.S. stocks fell on Tuesday as investors reacted to disappointing economic data and U.S. President Donald Trump's new tariff threats.

The Dow Jones Industrial Average declined 0.14 percent to close at 44,111.74. The S&P 500 lost 0.49 percent, ending at 6,299.19, while the Nasdaq Composite dropped 0.65 percent to 20,916.55.

Weakness was widespread across sectors, with seven of the 11 S&P 500 sectors finishing in the red. Utilities and technology led the decline, falling 1.05 percent and 0.91 percent, respectively, while materials and consumer discretionary were the top gainers, rising 0.80 percent and 0.29 percent.

Economic concerns mounted after the Institute for Supply Management reported its services purchasing managers' index slipped to 50.1 in July, barely above the level indicating expansion and down from 50.8 in June. Economists had expected an increase to 51.5. New orders slowed, export orders contracted again, and the employment measure within the survey dropped to 46.4, its lowest reading since March.

Adding to the pressure, Trump told CNBC on Tuesday that new tariffs targeting semiconductors and pharmaceuticals would be introduced soon.

Mega-cap tech stocks, which rallied on Monday, gave up ground Tuesday. Nvidia fell around 1 percent, Meta and Broadcom declined more than 1.6 percent. Microsoft dropped about 1.5 percent, while Apple, Alphabet and Tesla posted smaller losses. Amazon bucked the trend, rising 0.99 percent and snapping a two-day losing streak.

"Today we're seeing the market pull back a little bit, (but) equities have been on a nice run. We're probably due for a period of consolidation, some backing and filling, so to speak," said Terry Sandven, chief equity strategist at U.S. Bank Asset Management. "Clearly, valuations are elevated. This is not a cheap market."

Investors now turn their attention to the ongoing earnings season, with AMD and Rivian set to report results Tuesday evening, followed by McDonald's and Disney on Wednesday.

"We expect further choppy trading to persist in the later stages of summer, especially as the path of interest rate policy remains unknown and highly sensitive to incoming economic data," Wolfe Research's chief investment strategist Chris Senyek wrote Tuesday. "We continue to believe that the current environment is squarely focused on the growth outlook."