The broad-based S&P 500 index fell 0.8 percent, the Dow Jones Industrial Average retreated 0.7 percent and the tech-heavy Nasdaq Composite Index fell 0.9 percent on Monday.
Several tech companies were among the losers. AI-related companies like AMD and Micron lost 3.6 and 2.6 percent, respectively.
The giant Nvidia, on the other hand, went against the grain after the company pleased shareholders with an announced increase in the ceiling on its share buyback programme, and rose 1.7 percent.
On Monday, the yield on 10-year US Treasury bonds rose to 5.23 percent at the close of trading. The price of a barrel of North Sea oil has also risen from Friday evening's $104 to almost $108.
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