US STOCKS-S&P 500, Dow ease after recent gains; Nasdaq ends at record

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* Broad S&P 500 pullback led by cyclical stocks
* Nasdaq adds to reco
* Fed's two-day policy meeting kicks off

(Updates to close)
By Caroline Valetkevitch
June 9 (Reuters) - The S&P 500 and Dow fell on Tuesday after
recent strong gains, while the Nasdaq ended at an all-time high
for a second straight day after briefly rising above the 10,000
mark for the first time.
Investors eyed this week's Federal Reserve meeting. While no
major policy announcements are expected when the U.S. central
bank wraps up its two-day meeting on Wednesday, investors will
scrutinize its remarks on the health of the economy, which has
been reopening after coronavirus-related closures.
The Nasdaq's gains came a day after the index became the
first of Wall Street's main indexes to confirm a new bull market
after hitting a low on March 23.
The benchmark S&P 500 fell back into negative territory for
the year after erasing those losses on Monday.
"It strikes me as maybe a reflexive selloff as a result of a
tremendous rally over the past week. There's no news headline
that screams bearish catalyst to me. But conversely, other than
the nonfarm payrolls data, the past two weeks haven't had super
bullish catalysts either," said Mike Zigmont, head of trading
and research at Harvest Volatility Management in New York.
"In the grand scheme of things, it seems like the market has
caught a bullish fever, and it's feeding on itself."
The rally in U.S. stocks accelerated last week after
strikingly upbeat May jobs data strengthened views that the
worst of the economic fallout from the pandemic was over.
Financial .SPSY , industrial .SPLRCI and energy .SPNY
stocks, which have surged in recent weeks on hopes of an
improved economic outlook, were the biggest drags on the
benchmark S&P 500 on Tuesday.
Unofficially, the Dow Jones Industrial Average .DJI fell
296.99 points, or 1.08%, to 27,275.45, the S&P 500 .SPX lost
25.06 points, or 0.78%, to 3,207.33 and the Nasdaq Composite
.IXIC added 29.01 points, or 0.29%, to 9,953.75
U.S. financial market operators, including the New York
Stock Exchange, held a moment of silence in honor of George
Floyd, a 46-year-old African American who died on May 25 after a
white police officer knelt on his neck for nearly nine minutes.
The S&P 1500 airlines index .SPCOMAIR tumbled, while
cruise operators Carnival Corp CCL.N and Norwegian Cruise Line
Holdings Ltd NCLH.N fell following their recent sharp recovery
amid recent signs of a pickup in global travel.