U.S. equities traded lower Tuesday, pulling back from record highs, as oil prices fell to their lowest levels since November.
The Dow Jones Industrials dropped 16.97 points from Monday’s record high to 21,512.02, with Chevron and Goldman Sachs contributing the most losses.
The S&P 500 deducted 9.59 points – also from a Monday peak — to 2,443.87, as the energy sector dropped nearly 2% to lead decliners.
The NASDAQ skidded 23.93 points to 6,215.08.
Investors also kept an eye on Washington as they awaited more details regarding potential tax reform.
House Speaker Paul Ryan is scheduled to speak later in the day at a conference held by the National Association of Manufacturers, where he is expected to push for permanent changes and comprehensive reform for individuals and businesses.
Prices for the benchmark 10-year Treasury note gained ground, lowering yields to 2.16% from Monday’s 2.19%. Treasury prices and yields move in opposite directions.
Oil prices fell $1.20 to $43.00 U.S. a barrel
Gold prices faltered $2.30 to $1,244.40 U.S. an ounce.