The S&P 500 and Nasdaq have both felt pressure as shares of major tech companies came under pressure Monday. Investors continue to keep a close eye on rising Treasury yields, which heighten worries about valuations, particularly for some of the market's most highly valued names.

Stocks closed mixed on Monday, with Big Tech names paring losses as the dollar and bond yields climbed amid fading hopes for interest rate cuts ahead of this week's key consumer inflation reports. The blue-chip Dow Jones Industrial Average (^DJI),