US stock markets settled lower on Monday, but held near record levels, while shares of Apple declined on a rare downgrade.

The Dow Jones Industrial Average dropped 22.25 points or 0.10 percent to settle at 21,184.04. NASDAQ 100 index declined 3.34 points or 0.06 percent to close at 5,878.12. The broader S&P 500 index fell 2.97 points, or 0.12 percent, to 2,436.10.