(CNBC) — U.S. stocks were mixed on Monday, with technology shares slammed ahead of Alibaba's planned debut later in the week, as investors unloaded high-fliers a day before the Federal Reserve starts a two-day policy session.
"Today's is the day when the Nasdaq is getting its due," said Bruce McCain, chief investment strategist at Key Private Bank, who noted that stocks leading the decline included "some of the names that have really run up the most."
"We are becoming a risk-aware market compared to where we were last year, and that's not a bad thing," added McCain.