U.S. stocks closed lower on Monday amid renewed pressure on technology stocks.
The Nasdaq composite and the Nasdaq 100 indexes fell 0.52 percent and 0.59 percent respectively, with the composite posting its biggest two-day slide since December. Shares of Apple fell after Mizuho Securities downgraded the stock to neutral from buy.
Other big tech stocks followed Apple lower, with Amazon, Alphabet, Netflix and Facebook all declining.
Tech knocked the S&P and Nasdaq off of record highs Friday, as the best-performing sector of 2017 posted its worst session since May 17.
The Dow Jones industrial average fell 36.30 points, or 0.17 percent, to close at 21,235.67, with Apple leading decliners and General Electric the top advancer.
The S&P 500 declined 2.38 points, or 0.1 percent, to end at 2,429.39, with information technology leading six sectors lower and telecommunications outperforming.
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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