(CNBC) — U.S. equities traded lower Tuesday, pulling back from record highs, as oil prices fell to their lowest levels since November.

The S&P 500 lagged, falling 0.42 percent as the energy sector dropped nearly 1.1 percent to lead decliners. The Dow Jones industrial average hit a record before slipping 10 points, with Chevron and Disney contributing the most losses. The Nasdaq composite declined 0.5 percent.

U.S. crude for July delivery fell 2.19 percent to settle at $43.23 a barrel amid signs of rising production. Crude also entered a bear market, trading at least 20 percent below its 52-week high.

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