(CNBC) -- Stocks reversed course on Monday, closing lower as a rally in major tech names — which briefly pushed the S&P 500 into positive territory for the year — fizzled out.
The S&P 500 closed 0.9% lower at 3,155.22. Earlier in the day, the broader market index rallied more than 1% and was briefly up about 0.1% for 2020. Monday marked the first time since early June that the S&P 500 traded positive year to date.
The tech-heavy Nasdaq Composite pulled back 2.1% to 10,390.84 after being up as much as 1.95%. The Nasdaq-100 — which is made up of the 100-largest nonfinancial companies in the composite — briefly broke above 11,000 for the first time before falling 2.2%.
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