Stocks on Wall Street closed broadly lower Monday, giving back some of the big gains the market notched last week on hopes for interest rate cuts from the Federal Reserve .

The S&P 500 fell 0.4% and remains near its all-time high. The Dow Jones Industrial Average closed 0.8% lower after setting a record high on Friday. The Nasdaq composite closed 0.2% lower.

The selling was widespread, with health care stocks among the biggest drags on the market. Pfizer fell 2.9% and Eli Lilly and Co. slid 2.3%.

Gains for several big technology stocks helped temper the market’s losses. Alphabet, Google’s parent company, rose 1.2%. Technology heavyweight Nvidia rose 1%.

Treasury yields rose in the bond market following their big drop on Friday amid expectations that the Fed will cut its benchmark int

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