NEW YORK, July 26 — US stock indexes fell from record highs today 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.
A two-day meeting of the Fed starting tomorrow 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. Heavyweight technology stocks, including Alphabet Inc , Apple Inc and Microsoft Corp, are set to report their earnings this week.
Recent losses in Chinese stocks have been steeper than those recorded during the height of the Sino-US trade war in 2018, mainly due to Beijing’s targeting of large technology firms.