A decline in tech shares pushed the major indexes lower on Monday as Wall Street tried to regain its footing after last week's sharp losses. The dipped 0.6 percent to 2,750.79 as the tech sector fell more than 1.5 percent. The tech-heavy Nasdaq Composite dropped 0.9 percent to close at 7,430.74. The Dow Jones Industrial Average closed 89.44 points lower at 25,250.55. Apple and Netflix pulled back more than 1.8 percent each. Netflix fell after Goldman Sachs and Raymond James slashed its price targets on the video-streaming giant. Apple dropped after Goldman Sachs said the tech giant's earnings could fall short this year as demand in China slows. Amazon, Microsoft and Alphabet also traded lower. Chipmarkers also fell. The VanEck Vectors Semiconductor ETF (SMH) declined 1.1 percent, led by a 4.5 percent decline in Nvidia.

The major averages gyrated between positive and negative territory throughout the session. At its high of the day, the Dow rose as much as 142.43 points; it also fell as much as 96.11 points. "You have an oversold condition and the market knows it should try to find a bottom," said Robert Pavlik, chief investment strategist at SlateStone Wealth. "But you have a crosscurrent of factors that's preventing it from doing that." These factors include interest rates and earnings, he said. "Valuations are attractive, but this crosscurrent keeps people from feeling like this is a bottom they can trust," Pavlik added. The major indexes registered their worst weekly losses since March last week as interest rates jumped to multiyear highs. The 10-year Treasury note yield rose to 3.261 percent last week before trading around 3.15 percent on Monday. Investors fretted that a sharp rise in yields would lead to higher borrowing costs and ultimately slow down the world economy.

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