The Dow Jones industrial average was down 63 points, or 0.4 per cent, to 15,495 shortly before noon Eastern Daylight Time Monday.
The Standard & Poor's 500 index fell eight points, or 0.5 per cent, to 1,683. The Nasdaq composite fell 16 points, or 0.5 per cent, to 3,596.
Saks rose 3 per cent to $15.86 after the luxury department store operator announced a deal to be acquired by the parent company of Lord & Taylor for $2.4 billion.
There's lots of news for investors this week, including a Federal Reserve meeting that winds up Wednesday and the government's monthly employment report on Friday. Merck, Exxon Mobil and Procter & Gamble also report earnings this week.