Market heavyweights dip ahead of Nasdaq 100 rebalance

FILE PHOTO: An electronic screen displays the Apple Inc. logo on the exterior of the Nasdaq Market Site following the close of the day's trading session in New York City, New York, U.S., August 2, 2018. REUTERS/Mike Segar/File Photo

(Reuters) - Shares of Apple, Microsoft and other heavyweight companies dipped on Monday after Nasdaq Inc said it would rebalance its Nasdaq 100 index to address the benchmark's "overconcentration."

Apple dropped 1.1%, leaving its market capitalization at $2.967 trillion. It closed above the $3 trillion threshold for the first time on June 30. Alphabet and Amazon fell over 2%, while Microsoft and Tesla each slid more than 1%.