U.S. stocks receded from record highs on Monday as oil weighed on energy shares and investors awaited an avalanche of quarterly reports.
Shares fell almost across the board, with energy stocks leading declines across 10 S&P 500 sectors and the consumer discretionary sector the lone gainer, helped by a 1.84-percent gain in Target (TGT.N).
The negative start to the week, which includes earnings from 190 S&P 500 companies as well as a Federal Reserve policy meeting, put the brakes on a 9-percent rally that started on June 27.
The Dow Jones industrial average .DJI dipped 0.42 percent to end at 18,493.06 points and the S&P 500 .SPX lost 0.3 percent to 2,168.48.
Caution gripped Asian markets on Tuesday, sending the safe-haven yen higher ahead of central bank meetings in the United States and Japan, while a fresh skid in oil dampened energy stocks on Wall Street.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 0.2 percent, consolidating after recently topping out at nine-month highs.
Reference: Reuters
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