US stocks struggle at open, tech stocks weigh; Fedspeaks in focus

Major US equity indices kicked off a new week on the back foot, weighed down by a sell-off in technology stocks, led by a follow through weakness in Apple shared following a lukewarm global response to the launch of iPhone 8. 

Meanwhile, market expectation for an additional Fed rate hike action by the end of this year was further reinforced by today's comments by the New York Fed President William Dudley. 

During a scheduled speech at Onondaga Community College, in Syracuse, Dudley was noted saying that continued gradual US policy tightening was appropriate as inflation is expected to move towards the 2.0% target over the medium term, which eventually dented investors' appetite for equities. 

Later during the day, speeches by Chicago Fed President Charles Evans and Minneapolis Fed President Neel Kashkari would also be looked upon for some fresh impetus ahead of the Fed Chair Janet Yellen's appearance on Tuesday.

During the opening hour of trade, the Dow Jones Industrial Average was down around 10-points to 22,340, while the broader S&P 500 Index lost nearly 3-points and dipped below the 2,500 psychological mark. Meanwhile, tech-heavy Nasdaq Composite Index underperformed the broader indices and slipped over 30-points to levels below the 6,400 mark.