Five minutes into trade Dow Jones Industrial Average was down by 61.93 points (0.46 percent) at 13,373.28.

The broad-based S&P 500 fell 6.69 points (0.46 percent) to 1,459.78, while the tech-heavy Nasdaq Composite lost 14.00 (0.45 percent) to 3,087.66.

Bank of America shares added 0.2 percent to $12.13 after it announced an $11.6 billion deal to settle longstanding mortage claims from Fannie Mae, and the sale of servicing rights on $306 billion worth of mortgages.

Nationstar Mortgage, one of the buyers of the servicing rights, gained 13.8 percent.