Wall Street update: Tech mega-caps knock 1% off Nasdaq; banks lift Dow

Stocks sensitive to economy lead gains; US core capital goods orders, shipments rise in August

The Nasdaq index slipped more than 1% on Monday as investors swapped technology heavyweights for stocks linked to economic growth amid increasing confidence in a recovery.

Four of the 11 major S&P sectors fell in early trading, with technology and communication services leading the losses.

Mega-cap growth names Alphabet Inc, Microsoft Corp , Amazon.com Inc, Facebook Inc and Apple Inc slipped between 1.2% and 2.9%.

Chipmakers were down 1.3% as widening power shortages in China threatened to curb production.

A rise in the U.S. 10-year Treasury yield towards levels last seen in June further weighed on technology stocks, given that their future earnings will