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U.S. stocks retreated as energy producers and Apple Inc. led declines, with the S&P 500 Index paring its best weekly advance in more than two months after a rally spurred by the Federal Reserve.

Equities halted the longest winning streak in seven weeks as Apple and Facebook Inc. dragged down the technology group, while tumbling crude oil sank energy shares on worries OPEC won’t reach an agreement to curb output. Apple fell in afternoon trading amid speculation over iPhone demand. Bats Global Markets Inc. soared 19 percent and Twitter Inc. climbed the most since 2013 amid deal speculation.

The S&P 500 lost 0.6 percent to 2,164.69 at 4 p.m. in New York, as crude dropped the most since July and Apple lost 1.7 percent. The equity benchmark closed below its average price during the past 50 days. The Dow Jones Industrial Average slipped 131.01 points, or 0.7 percent, to 18,261.45. The Nasdaq 100 Index declined 0.7 percent, a day after posting its 12th record close this year. About 6.3 billion shares traded hands on U.S. exchanges, 7 percent below the three-month average.

Asian shares began the week under a cloud on Monday after losses on Wall Street, as investors' attention turned from central banks to American politics ahead of the first U.S. presidential debate.

MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 0.1 percent in early trade, while Japan's Nikkei stock index .N225 slumped 0.5 percent against the headwinds of a stronger currency

Wall Street logged weekly gains but ended with solid losses on Friday. The S&P 500 still managed to record its best weekly performance in more than two months after the U.S. Federal Reserve held interest rates steady on Wednesday.

Investors awaited Monday evening's U.S. presidential debate between Donald Trump and Hillary Clinton, which will take place early on Tuesday in Asian time zones. The first of three debates ahead of the November election could set U.S. television audience records.