(CNBC) -- Technology shares led the broader market lower on Monday as investors dumped high-flying Big Tech stocks and bet on companies leveraged to a strong economic comeback.
The Nasdaq Composite dropped 2.3% as Amazon and Apple lost more than 2% each. Facebook and Netflix both dropped over 3%. Tesla shed more than 6%. The Dow Jones Industrial Average cut gains rapidly in final minutes of Monday’s session after climbing more than 300 points to another record high. The S&P 500 dipped 0.5%.
Tech stocks pulled back from Friday’s big gains. Alphabet dipped more than 2% after a downgrade by Citigroup. Cathie Wood’s Ark Innovation ETF fell more than 4% to its lowest level since November.
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