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Wall Street ended mixed on Monday as investors began the last week of September and the quarter with a pivot to value as tech shares, hurt by rising Treasury yields, weighed on the Nasdaq.

The S&P 500 index joined the Nasdaq in negative territory, while the Dow ended higher.

Benchmark U.S. Treasury yields rose, to the benefit of rate-sensitive financials. And rising crude prices pushed energy stocks higher, stoking fears that inflation will prove longer-lasting than anticipated.

Kramer Capital Research's chief investment officer Hillary Kramer says inflation is what worries her, and a broken supply chain leaving dozens of ships stranded at the ports of Los Angeles and Long Beach.

KRAMER: "It costs money for these ships to have stuff on them and not be able to unload and head back. We don't have enough truck drivers. We don't have enough ways to transport things. All of that is due to inflationary pressures. And inflation is going to really throw a wrench into the stock market going forward, as well as a number of other reasons that could create an overhang as we look at the greater market."

Rising yields hurt some tech market leaders on Monday, including Microsoft, Apple, Amazon.com.

Morgan Stanley lowered its price target on Amazon noting that its growing workforce and rising wages "revealed more profit pressure ahead."

Meanwhile, investors are keeping an eye on negotiations in Washington over funding the government and raising the debt ceiling, as talks heated up at the start of a week that could also include a vote on U.S. President Biden's $1 trillion infrastructure bill.