US STOCKS-Wall St drops from highs as earnings take center stage
* Fed begins two-day meeting on Tuesday
* Drop in oil pulls down energy shares
* Investors eye valuations after recent rally
* Yahoo drops after agreeing to sell core assets to Verizon
* Indexes down: Dow 0.58 pct, S&P 0.47 pct, Nasdaq 0.17 pct (Updates to afternoon)
By Noel Randewich
July 25 (Reuters) - U.S. stocks fell from record highs on Monday as oil weighed on energy shares and investors awaited an avalanche of quarterly reports.
Shares fell almost across the board, with energy stocks leading declines across 10 S&P 500 sectors and consumer discretionary a loan bright spot, helped by a 1.97-percent gain in Netflix.
The negative start to the week, which includes earnings from 190 S&P 500 companies as well as a Federal Reserve policy meeting, put the brakes on a 9 percent rally that started on June 27. Continuación...