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| Image via CrunchBase |
The benchmark S&P 500 index closed at highs last week not seen in nearly five years, motivating some investors to pull back from those gains Monday ahead of the Federal Reserve's decision on Thursday.
"The markets are up a lot, so the short-term risks are on the downside," said Jim Awad, managing director at Zephyr Management in New York.
Shares of Intel Corp lost nearly 4 percent after several brokerages cut price targets on the chipmaker. Shares of Apple Inc , the world's largest publicly traded company by market value, dropped more than 2 percent as the market's weakness was felt most in tech shares.
Investors are on guard against the unknown outcomes of several events this week, including a ruling by Germany's constitutional court on Wednesday on the legality of the euro zone's permanent financial rescue fund and the Fed decision on Thursday.
Expectations for more stimulus from central banks in the United States and Europe have underpinned markets in recent weeks. ... Continue to read.
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