European stocks give up record highs on profit-taking

European stocks fell on Monday, pulling back from their all-time highs, due to profit-taking and investors' risk aversion ahead of the US Federal Reserve's meeting.

The Stoxx Europe 600 index fell 0.4% as of 11:30 GMT, after it closed higher by 1.1% and hit its all-time high at 461.75 points on Friday.

The pan European index gained 1.5% last week, the second weekly gain in 3 weeks, thanks to upbeat Q2 earnings results.

The automotive sector saw the largest loss in Europe today, with a drop of 1.6%, as most shares of car manufacturers in Germany fell.

S&P 500 futures fell 0.5% today ahead of Wall Street's opening, after the index ended higher by 1% on Friday and posted a new record at 4,415.18 points.

The US Federal Reserve's monthly meeting will start on Tuesday, amid broad anticipation of more cues over the future of the US monetary policy tightening.

Back to Europe, the Euro Stoxx 50 index fell 0.4%, France's CAC 40 fell 0.3%, Germany's DAX index fell 0.6%, and the UK's FTSE 100 fell more than 0.25%.