June 16 (Reuters) - U.S. stock indexes Nasdaq and Standard & Poor's 500 closed lower on Tuesday, weighed down by technology stocks, while the Dow Jones Industrial Average hit a record closing high for the second time in a row.

After a sharp market rally on Monday, fueled by optimism following a peace agreement between the United States and Iran, investors in Nasdaq and Standard & Poor's 500 stocks took a short break, even as oil prices fell to their lowest levels since early March.

SpaceX shares rose but then retreated from earlier gains. For most of the session, the rocket and artificial intelligence company's market capitalization surpassed that of Amazon and briefly exceeded that of Microsoft.

While lower oil prices have provided some support for stocks, Mark Lucchini, chief investment strategist at Janney Montgomery Scott in Philadelphia, said it is extremely difficult to capitalize on the recent sharp gains in the heavyweight technology sector without pause.

He noted some caution among investors ahead of the Federal Reserve's (the US central bank) interest rate decision scheduled for Wednesday.

Lucchini said, referring to the S&P 500's 1.65 percent rise on Monday and the Nasdaq's more than 3 percent gain, "We saw a lot of movement in the market yesterday...we are absorbing some of those gains now, and the situation while waiting for the Fed meeting is always a bit uncertain."

According to preliminary data, the S&P 500 fell 41.85 points, or 0.55 percent, to close at 7,512.44, while the Nasdaq Composite lost 301.13 points, or 1.15 percent, to close at 26,382.81. The Dow Jones Industrial Average rose 345.54 points, or 0.67 percent, to 52,016.57.