The euro fell against the U.S. dollar amid European pushback over the pact. The Nasdaq Composite and S&P 500 inched up to fresh records.

U.S. stocks slipped on Monday after the S&P 500 and the Nasdaq edged up to fresh intraday records, as investors assessed the U.S.-EU trade pact and braced for a week of major market catalysts.

The 15% rate is higher than the current 10% tariff rate on European luxury goods. It’s possible investors wanted better terms for the sector.