(Updates prices, adds context)

* S&P 500 down 0.6% before Tuesday’s Fed meeting

* Hang Seng Tech index tumbles 8%

* STOXX 600 index loses 0.5%

* World stock index sheds 0.7%.

By Koh Gui Qing

NEW YORK, July 27 (Reuters) – U.S. stocks fell from record highs on Tuesday while real U.S. bond yields hit all-time lows, as a sell-off in Chinese shares, economic growth concerns and the Federal Reserve’s policy meeting put investors on guard and drove profit-taking.

Unsettled by events in China overnight, where share prices skidded on concerns about the impact of a recent tightening in government regulations, global stock markets pulled back on Tuesday as volatility spiked.

In the United States, investors turned cautious as they awaited the Federal Reserve’s policy statement at the close of its two-day meeting, which began Tuesday.

All eyes will be on what Fed Chair Jerome Powell says at a post-meeting news conference on Wednesday at 1800 GMT,…

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