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March 24, 2014, 9:48 AM EDT / Updated March 24, 2014, 4:14 PM EDT / Source: CNBC

Stocks fell on Monday, with the tech-heavy Nasdaq losing more than 1 percent as investors sold-off some big-name stocks such as Facebook and Netflix.

The Dow Jones Industrial Average reversed direction from morning gains and ended the day unofficially down 26 points. The S&P 500 lost 9 points and the Nasdaq shed 50 points, or 1.18 percent.

The index was knocked by heavy losses among some of its recent outperformers, including Facebook, which dropped 4.67 percent, Tesla Motors, down 3.8 percent and Netflix, which lost 6.67 percent.

"These are all stocks that have had enormous gains over the last year; those are high-valuation stocks, and when you talk about a risk-off trade where people are withdrawing capital from riskier areas, that's where people pull from first, stocks that have had significant run-ups," said Matthew Kaufler, portfolio manager at Federated Investors.

The dollar gained against the currencies of major U.S. trading partners.Treasury prices were mixed, with the two-year note's yield jumping 0.1 percent to 0.429 percent. The 10-year yield used to figure mortgage rates and other consumer loans fell 0.6 percent to 2.731 percent.

Ahead of Wall Street's open, the flash Markit/HSBC Purchasing Managers' Index had Chinese manufacturing contracting in the first quarter of the year, boosting hopes that China's government might take steps to stimulate the economy.

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FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

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FOR SUBSCRIBERSThe debate over AI’s future rages on both coasts

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Stocks Close Lower, Nasdaq Hit Hard as Big-Name Stocks Fall

For Subscribers

FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

FOR SUBSCRIBERSFrom clean energy warrior to ‘wall of shame,’ James Talarico reverses on a fossil fuel money pledge

FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

FOR SUBSCRIBERSAt MAHA summit, industry CEOs the movement once vilified take the stage

FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

FOR SUBSCRIBERSCornell rape allegation spotlights stringent New York state laws that have long drawn criticism

FOR SUBSCRIBERSThe debate over AI’s future rages on both coasts

FOR SUBSCRIBERSDecades-old march dispute reignites in Northern Ireland, threatening political crisis

For Subscribers

FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

FOR SUBSCRIBERSFrom clean energy warrior to ‘wall of shame,’ James Talarico reverses on a fossil fuel money pledge

FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

FOR SUBSCRIBERSAt MAHA summit, industry CEOs the movement once vilified take the stage

FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

FOR SUBSCRIBERSCornell rape allegation spotlights stringent New York state laws that have long drawn criticism

FOR SUBSCRIBERSThe debate over AI’s future rages on both coasts

FOR SUBSCRIBERSDecades-old march dispute reignites in Northern Ireland, threatening political crisis

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