(CNBC) — Stocks closed lower Tuesday, with telecommunications lagging, as investors awaited the release of the minutes from the Federal Reserve's July meeting.
"I think we had a little bit of profit taking. We had that trifecta concurrent record high yesterday. Part of it might be driven by the fact that we do have the Fed minutes coming out tomorrow afternoon. I don't' think that will be a big impact but sometimes we get a reaction," said Randy Frederick, managing director, trading and derivatives at Charles Schwab.
The Fed is scheduled to release the minutes of its July meeting Wednesday at 2 p.m. ET.
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The three major indexes simultaneously closed at record highs for the second time in less than a week on Monday. Last week, they posted record closes at the same time for the first time since 1999.