While selling pressure has waned from earlier in the session, stocks are seeing continued weakness in afternoon trading on Monday. The major averages are stuck firmly in negative territory after showing a notable decline in early trading.

Steep losses by semiconductor, computer hardware, and transportation stocks are helping to keep the major averages stuck in the red, while strong gains by financial and metal stocks are limiting the downside for the markets.

The major averages have shown a notable move to the upside in the past few minutes, although they currently continue to post moderate losses. The Dow is currently down 52.09 at 8,031.29, the Nasdaq is down 8.07 at 1,644.47 and the S&P 500 is down 1.20 at 855.36.

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