Stocks: Starting the week with a fall

NEW YORK (CNNMoney)

The Dow and S&P 500 both hit all-time highs last week in a broad based rally. But stocks sold off Friday, with technology shares leading the way down, as investors bailed out of companies that have been particularly hot. The Nasdaq plunged 2.6%, and the Dow and S&P 500 fell around 1%.

There is little economic or corporate news on the docket Monday.

Related: Fear & Greed Index

But big banks will start reporting their first quarter earnings later in the week and financial stocks are one sector expected to turn in a weaker performance.

Earnings for the companies in the S&P 500 are expected to be down 1.2% in the first quarter, according to estimates from FactSet Research.

U.S. stock futures were clearly in the red, with the Nasdaq leading the way lower with a decline of 0.6%.

Still, stock experts surveyed by CNNMoney say the bull market still has a way to run yet, despite the volatile start to the year.

Related: CNNMoney's Tech30

European markets and Asian markets were weaker, taking their cue from Friday's late sell-off on Wall Street. Japan's Nikkei ended 1.7% down, while Germany's DAX was trading 1% lower during the morning.

Cement stocks provided one bright spot, with Lafarge (LFRGY) and Holcim (HCMLF)both managing solid gains after they agreed to a merger that would create the world's biggest construction materials group.

First Published: April 7, 2014: 5:44 AM ET

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