Stocks Dip After Record High

The S&P 500 falls from its peak on Monday

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U.S. stocks fell modestly Tuesday as investors took a breather after a series of record-breaking market closings over the last month.

The S&P dropped from a record close yesterday after surging more than 26 percent this year. The Dow fell with 22 of its 30 benchmarks in the red. The Nasdaq also fell slightly.

“As we approach this holiday season, investors are questioning why they are bidding aggressively for stocks. It’s a combination of valuations may be too far ahead and some uncertainty over the budget issues,” Bruce McCain, chief investment strategist, Key Private Bank in Cleveland, told CNBC.