Tech, megacaps drag Wall St to lower close as big market week kicks off

The Dow fell 260.99 points, or 0.77%, to 33,717.09, the S&P 500 lost 52.79 points, or 1.30%, to 4,017.77 and the Nasdaq dropped 227.90 points, or 1.96%, to 11,393.81.

NEW YORK: Major US stock indexes sank on Monday, weighed down by declines in technology and other megacap shares, as investors looked toward a major week of events including central bank meetings and a slew of earnings reports.

The heavyweight tech sector dropped 1.9% while energy shed 2.3%, the biggest drop among the S&P 500 sectors. Shares of Apple Inc, Amazon.com Inc and Google parent Alphabet Inc, which are due to post results later this week, all slumped.