US stocks retreat from records

New York - Wall Street stocks retreated from record levels in opening trade on Tuesday on revived worries about the overvaluation of equities.

All three major indices set high marks on Monday, but worries Tuesday included "concerns about the market being ahead of itself, and some spotty economic data," said Briefing.com analyst Patrick O'Hare.

Data showed US consumer prices were up a modest 0.2% in July, the same pace as the previous two months, while housing starts rose 2.1% from June and industrial output gained 0.7%.

Five minutes into trade, the Dow Jones Industrial Average stood at 18 564.07, down 0.4%.

The broad-based S&P 500 lost 0.4% at 2 181.84, while the tech-rich Nasdaq Composite Index fell 0.4% to 5 240.84.