Major U.S. averages slipped Tuesday afternoon, as investors kicked off the holiday-shortened trading week with attention on geopolitics, and an eye on the market circling record highs. The benchmark S&P 500 (SP500) shed -0.

The S&P 500 flirted with a record as U.S. stock-market investors returned from a three-day weekend, awaiting minutes from the Federal Reserve's January meeting and data due later this week.