The S&P 500 and Nasdaq have both felt pressure as shares of major tech companies came under pressure Monday. Investors continue to keep a close eye on rising Treasury yields, which heighten worries about valuations, particularly for some of the market's most highly valued names.

The 10-year Treasury yield ( ^TNX) added to recent gains to touch a 14-month high, trading around 4.8% as US bonds sold off. Meanwhile, the dollar ( DX-Y.NYB) surged to a two-year high against major currency peers, with the UK pound ( GBPUSD=X ), in particular, coming under pressure.

Dow Jones futures fell Monday morning, along with S&P 500 futures and especially Nasdaq futures. Key economic data and earnings loom.Apple plans to redesign the iPhone for the first time in five years and introduce a new smart home hub,

U.S. stock futures leaned lower Friday on concern over possible export restrictions on Nvidia, ahead of key data on the jobs market. Dow Jones Industrial Average futures fell 41 points, or 0.1%, to 42837. S&P 500 futures dropped 17 points, or 0.3%, to 5942.