Selling was concentrated in Nasdaq composite early Monday as the index opened with a 0.4% loss. Losses in the Dow Jones industrial average and S&P 500 were only 0.1%.
X Shares of Facebook (FB) were down 1.5% after the open. The stock is still working on a flat base but has fallen below the 50-day moving average.
Last week, Facebook CEO Mark Zuckerberg announced wide-sweeping changes in how the company deals with political ads, and turned over 3,000 Russia-linked ads to congressional investigators.
Apple (AAPL) slid more than 1% after a rough last week that saw shares slide 5%. Concerns about iPhone 8 demand, plus a cellular connectivity issue with the new Apple Watch, continue to weigh on shares.
Apple gapped up over a 156.75 buy point in early August but never made much progress after the breakout. It gave up support a the 50-day moving average last week.
Meanwhile, several small deals made early headlines in the stock market today. Genuine Parts (GPC) soared 8% and gapped above the 200-day moving average after the automotive replacement parts company said it's buying European vehicle parts distributor Alliance Automotive for around $2 billion.
Unilever (UN) acquired cosmetics maker Carver Korea from Bain Capital and Goldman Sachs for $2.7 billion. Shares of Unilever were flat.
Separately, General Electric (GE) agreed to sell its industrial solutions business to ABB Ltd. (ABB) for $2.6 billion. GE added 0.2%, while ABB eased less than 0.1%.
Shares of D.R. Horton (DHI) turned slightly higher after a soft start after the homebuilder cut its 2017 cash flow from operations forecast to $150 million from $300 million, citing delays because of the recent hurricanes. On the bright side, the company said doesn't expect the recent hurricanes to negatively impact its preliminary 2018 forecast.
In Europe, Germany's DAX edged higher on news Chancellor Angela Merkel won her fourth term in office, albeit with a smaller share of the vote due to a surprisingly strong performance from the country's far-right party, Alternative For Germany. London's FTSE 100 and the Paris CAC-40 lost around 0.3%.
Benchmark crude oil for November delivery was up 1% to $51.19 a barrel. Meanwhile, the 10-year Treasury yield was flat at around 2.25%.
RELATED:
Leading Stocks Like Grubhub Fuel This Mutual Fund's Rebound
Want To Make More Money In Stocks? Start With These 3 Questions
