US STOCKS-S&P 500, Dow ease as focus shifts to Fed; tech pushes Nasdaq to closing record

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* Broad S&P 500 pullback led by cyclical stocks
* Nasdaq ends at record again
* Fed's two-day policy meeting kicks off
* Indexes: Dow down 1.1%, S&P 500 down 0.8%, Nasdaq up 0.3%

(Updates close with details)
By Caroline Valetkevitch
June 9 (Reuters) - The S&P 500 and Dow fell on Tuesday,
pausing after recent strong gains as focus shifted to the
Federal Reserve, 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.
The Fed began a two-day meeting. While no major policy
announcements are expected when the U.S. central bank wraps up
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 on the back of strong gains in
tech-related shares, a day after the index became the first of
Wall Street's major indexes to confirm a new bull market. Apple
AAPL.O , up 3.2%, gave the Nasdaq its biggest boost on Tuesday.
The benchmark S&P 500 fell back into negative territory for
the year after temporarily 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 and industrial .SPLRCI shares, which
have been among stocks that have surged in recent weeks on hopes
of an improved economic outlook, were the biggest drags on the
benchmark S&P 500 on Tuesday.
The Dow Jones Industrial Average .DJI fell 300.14 points,
or 1.09%, to 27,272.3, the S&P 500 .SPX lost 25.21 points, or
0.78%, to 3,207.18 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 7.5%, 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.
Declining issues outnumbered advancing ones on the NYSE by a
3.09-to-1 ratio; on Nasdaq, a 1.84-to-1 ratio favored decliners.
The S&P 500 posted 10 new 52-week highs and no new lows; the
Nasdaq Composite recorded 56 new highs and one new low.
Volume on U.S. exchanges was 13.82 billion shares, compared
to the 12.54 billion average for the full session over the last
20 trading days.