US stocks drop from record highs amid spiking virus cases

Spencer Platt/Getty ImagesUS stocks traded mostly lower on Monday, retreating from record highs set last week amid a surge in COVID-19 cases and a new round of lockdowns.Millions of California residents were placed under new restrictions over the weekend, and bars, hair salons, and restaurants were ordered to close or cut back on operations.New daily virus cases reported in the US have hovered at about 200,000 this month.Watch major indexes update live here.US stocks traded mostly lower on Monda