US stocks posted impressive gains for 7 consecutive days, but on Tuesday began to decline amid low Treasury yields. Latest data said the economic indicator fell to its lowest level since February, consequently putting pressure on financial and small cap companies.

So, yesterday, S&P 500 retreated from all-time highs and moved down 0.5%, after energy stocks plummeted and banks fell nearly 2%. Meanwhile, Amazon and Apple briefly lifted the Nasdaq 100 to a new all-time high.

Edward Moya, senior market analyst at Oanda said risk appetite decreased because investors are worried about the sharp decline in China tech stocks.

Alpine Wood financial manager Sarah Hunt supported this and explained that people get nervous when 10-year incomes fall below 1.45% because it could signal an economic downturn.

At the same time, Fed plans on monetary policy are unclear, so investors remain concerned with instability on economic growth, said Keith Lerner, chief market strategist at Truist Advisory Services.

But the upcoming minutes from the latest Fed meeting could provide additional context on the issue, so investors will most likely see hints on whether the central bank will tighten its policy sooner than scheduled.

Other key events this week are:

- minutes of the June FOMC meeting (Wednesday);

- G20 meeting (Friday);

- data on China PPI and CPI.