US stocks weaker on tech sell-off, Yellen speech eyed

Major US equity indices opened with modest losses on Tuesday amid a follow through selling pressure in technology shares, for the second consecutive session.

During opening hour of trade, the Dow Jones Industrial Average was down around 25-points to 21,384, while the broader S&P 500 Index lost 5-points to 2,434. Meanwhile, tech-heavy Nasdaq Composite Index continued with its relative underperformance and dropped nearly 30-points to 6,220.

Investors also remained cautious ahead of a scheduled speech by the Fed Chair Janet Yellen, later during the day, where clues over the timing of next rate-hike move might provide some fresh impetus. 

Meanwhile, the latest IMF downgrade of the US economic growth projections was also seen weighing on the investors' sentiment and further collaborated to the weaker trading activity during early trade.

Among individual movers, shares of Google traded weaker following news that EU watchdog have imposed a €2.42 billion of antitrust fine, a much higher than €1 billion already priced-in by the markets.

On the economic data front, the US Conference Board is expected to show a drop in its consumer confidence index for the month of June and could further aggravate the selling pressure in the markets.