(Bloomberg) -- U.S. stocks fell from records as investors assessed the prospects for risk assets after a blistering month long rally. Crude oil declined.The S&P 500 dropped the most in a week, though remained on track for its best month since April. Global stocks and American small caps are still headed for their best months on record. Broad selling sent the Dow Jones Industrial Average lower. The tech-heavy Nasdaq indexes that trailed in November fared better than the S&P on Monday. Gold slumped and Bitcoin rallied back to an all-time high.“November certainly has been an impressive month for equity markets globally with the majority of them having seen double-digit percentage gains, so it certainly is not shocking to see investors digest the recent run,” said Yousef Abbasi, global market strategist at StoneX.Value Rotation Gives Europe a $1.7 Trillion Boost: Taking StockThe rapid pace to a coronavirus vaccine has given investors the confidence to price in a return to normalcy and faster economic growth, helping lift shares of companies that were hardest hit by the pandemic.Over the weekend, U.S. Surgeon General Jerome Adams said the federal government hopes to quickly review and approve requests from two drugmakers for emergency approval of their Covid-19 vaccines.“November has been such an unbelievable move up,” said Andrew Mies, chief investment officer of 6 Meridian. “All that is being driven by the vaccine.”Shares of Moderna Inc. surged as much as 18% on Monday after the company said it plans to request clearance for its coronavirus vaccine in the U.S. and Europe.The MSCI World Index has soared 13% in November, the best performance on record.The risk-on mood across markets has hurt demand for haven assets. Gold is on course for its largest monthly decline in four years. Even after gaining on Monday, the dollar is poised for a 2.5% drop in November.Gold Set for Worst Month Since 2016 as Risk Rally Thrives: ChartOil edged lower in New York. OPEC+ began two days of potentially complicated talks to hash out the size of its oil-production cuts next year, with the group’s president calling for caution in a fragile market.Elsewhere, the MSCI Asia Pacific Index sank 1.6% on Monday, the biggest loss in a month.Bitcoin took less than three years to replicate the euphoric ascent that catapulted the cryptocurrency into the mainstream consciousness. The world’s largest digital-asset gained as much as 8.7% to $19,351, according to data compiled by Bloomberg. It traded at a few cents for several years after its late 2008 launch by an unknown software developer in the wake of the global financial crash.These are some key events coming up:The Reserve Bank of Australia holds a policy meeting on Tuesday.Federal Reserve Chairman Jerome Powell testifies before Congress on Tuesday and Wednesday.The U.S. employment report on Friday is expected to show more Americans headed back to work in November, though at a slower pace than last month.Here are the main moves in markets:For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.