US stocks continue to drop from record highs

US stocks fell for the third session in a row, continuing to move away from recent record highs.

Tomorrow, markets will turn to major events, most notably Federal Reserve Chairman Jerome Powell's testimony before the House Financial Services Committee, and he will also testify before the Senate on Thursday.

In a related context, the minutes of the Federal Reserve meeting - held last month where interest rates kept unchanged - are expected to be released tomorrow as further details are expected to be released around what happened during the last meeting of the Federal Open Market Committee.

Markets are waiting for the meeting minutes to predict the next course of interest rates and monetary policy in general, especially after speculations about a possible rate cut this year have been lowerd.

In terms of trading, by 14:38 GMT, Dow Jones fell by 0.3% (90 points) to 26,717 points, Standard & Poor's shed 0.1% (three points) to 2,972 points, while Nasdaq rose 0.1% (equivalent to 12 points) to 8,111 points.