Stocks and sectors close lower on Monday, semiconductor stocks under pressure

Yahoo Finance reporter Ines Ferre breaks down Monday's market action, with stocks closing at the lows of the session.

Video transcript

RACHELLE AKUFFO: Well, we're just minutes away from the closing bell on this sell-off Monday. Let's bring in Yahoo Finance's Ines Ferre to break down the market action. Hi Ines.

INES FERRE: Hi, Rachelle. And it looks like we may end near the lows of the session. Let's take a look at our Yfi Interactive board so we can watch the major averages at this hour. We're looking at the NASDAQ composite, down more than 2 and 1/2%, S&P 500 down more than 2%. And you've got the Dow down more than 640 points.

I do want to point out the 10-year Treasury note, the yield punching through 3% earlier today. I also want to point out the US dollar index had touched 109 just minutes ago. So we have seen when the dollar index goes up, we have seen stocks, risk assets, lower in many occasions. And that's no different today.

Let's take a look at the sectors. We're watching communication services, technology, and consumer discretionary. Those are the ones that have been leading to the downside. But you've got all 11 sectors of the S&P 500 that are in the red.

And if you take a look at the Dow, all Dow components, 30 of the Dow components are in the red right now. Check out Intel, down 4%, Salesforce down more than 3 and 1/2% and Microsoft down more than 3%. Also looking at the NASDAQ 100, pay attention to the left-hand side of the screen. The mega caps, all of those are under pressure.

You've got Amazon down 3%. Tesla down more than 2%. As I mentioned, Microsoft, Alphabet, and Apple also lower. And you've got Nvidia down more than 4%.

I had mentioned Intel earlier, Nvidia is also down. Let's take a look at the semiconductors because we've seen a decline with the semis, [? City ?] warning about memory chip price weakness. But we have seen some days of a pullback with the semis over demand concerns. And today is one of those days.

Also taking a look at the energy stocks, these had been lower earlier this morning. But you did see oil coming off of its lows later throughout the day. And so a mixed picture here.