Wall Street falls from record highs as earnings-heavy week kicks off. U.S. stock indexes fell from record highs on Monday as locally listed Chinese firms tumbled on tighter regulations in the mainland, marking a poor start to a week packed with technology earnings and a Federal Reserve meeting.
China last week announced sweeping new rules on private tutoring and online education firms, the latest in a series of crackdowns on the technology sector that have roiled financial markets this year.
E-commerce major Alibaba Group and search engine Baidu Inc, two of the largest listed Chinese stocks in the United States, slipped more than 5% each.
A two-day meeting of the Fed starting on Tuesday will also be watched by investors for more clues on the central bank’s planned tightening of monetary policy, given that inflation has been accelerating sharply in recent months.
The S&P 500 has tended to perform poorly …