Wall Street's main indexes opened lower on Monday as shares of chipmakers and other megacap growth companies declined, while traders awaited a widely expected pause in interest rate hikes by the Federal Reserve this week.

The S&P 500 opened lower by 5.19 points, or 0.12 percent, at 4,445.13, while the Nasdaq Composite dropped 38.38 points, or 0.28 percent, to 13,669.96 at the opening bell.

The Dow Jones Industrial Average fell 5.95 points, or 0.02 percent, at the open to 34,612.29.

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