WASHINGTON: U.S. stocks fell on Monday as the tech sector extended losses with large cap tech stocks pressured for a second session. Apple Inc. AAPL, -2.39% skidded 2.5%, Facebook Inc. FB, -0.78% slid 0.8%, Alphabet Inc. GOOGL, -0.86% dropped 0.9% and Microsoft Corp. MSFT, -0.77% lost 0.8%.
The selloff comes on the back of mounting concerns over elevated valuations with a significant number of tech stocks having posted double-digit gains this year, outperforming the broader market. The S&P 500 SPX, -0.10% shed 2 points, or 0.1%, to close at 2,429 and the Dow Jones Industrial Average DJIA, -0.17% fell 36 points, or 0.2%, to end at 21,235. The Nasdaq Composite Index COMP, -0.52% slumped 32 points, or 0.5%, to close at 6,175.
