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Monday blues for US stocks

SPX News by Allie Longford on 09:43 June 12, 2017 EST
As implied by futures on Monday night the main US indices start the week with further loses.

The Nasdaq composite fell by almost 1% with Apple falling after Mizuho Securities downgraded the stock to neutral from buy.

Apple is not the only tech blue chip feeling the pain. Amazon and Google (Alphabet) shares dropped by around half a percent while Netflix and Facebook also fell 1.3 percent and 0.9 percent.

The tech sector had its worst day on Friday since May 17.

Investors eyes are now on the Federal Reserve meeting, where the U.S. central bank is widely expected to raise interest rates by a quarter of one per cent.

Treasurys drifted lower on Monday, with the 10-year note yield hiking to 2.218 percent and the two-year yield setting a one-month high of 1.355 percent.