Stocks fell on Monday as interest rates continued to climb on concerns over tighter monetary policy from the Federal Reserve that could slow economic growth.
The Dow Jones Industrials gave back 35.69 points to kick off Monday at 34,685.43.
The S&P 500 lost 31.85 points to 4,456.43
The NASDAQ Composite tumbled 149.71 points, or 1.1%, to 13,561.28.
Tech stocks led losses as higher interest rates spurred investors to drop more risky assets. Microsoft declined 2.6%. Semiconductor stocks like Nvidia docked 4.2%, and Advanced Micro Devices fell 3.4%.
Airline stocks as a group gained after markets opened. Delta Air Lines spiked 4%. Alaska Air Group was up 2.7%, American Airlines Group jumped 2.8%, Southwest Airlines ticked upward 2.6% and United Airlines Holdings jumped 2.6%.
Twitter's stock was on the move after CEO Parag Agrawal revealed that Elon Musk abandoned his plan to join the company's board. Shares for the social media company dropped more than 8% in the pre-market, but had recovered to trade 1.7% higher by the open.
The fight against inflation is likely to be a market driver this week. Investors will get a look at fresh data, with the consumer price index for March due out on Tuesday and the producer price index following on Wednesday.
Treasury prices fell as yields increased to 2.76%, from Friday's 2.71%. Treasury prices and yields move in opposite directions.
Oil prices doffed $4.48 to $93.78 U.S. a barrel.
Gold prices jumped $16.10 to $1,961 U.S. an ounce.