Mizuho Securities cut its rating on Apple to "neutral" from "buy" on Monday, saying the stock had outperformed this year and that the "upcoming product cycle is fully captured at current levels." Apple shares, down 2.4 percent on Monday, are up about 26 percent so far in 2017.
The Dow Jones Industrial Average .DJI fell 36.3 points, or 0.17 percent, to 21,235.67, the S&P 500 .SPX lost 2.38 points, or 0.10 percent, to 2,429.39 and the Nasdaq Composite .IXIC dropped 32.45 points, or 0.52 percent, to 6,175.47.
The largest percentage gainer on the S&P 500 was Under Armour (UAA.N), which rose 5.8 percent, while the largest decliner was Netflix (NFLX.O), down 4.2 percent.
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