(CNBC) — U.S. stocks traded lower on Monday amid renewed pressure on technology stocks.

The Nasdaq composite and the Nasdaq 100 indexes fell 0.77 percent and 0.89 percent respectively, with shares of Apple falling after Mizuho Securities downgraded the stock to neutral from buy. Analyst Abhey Lamba said the best-case scenario is priced into the shares.

Other big tech stocks followed Apple lower, with Amazon, Alphabet, Netflix and Facebook all declining.

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