Wall St update: Nasdaq slides 1% as surging yields hit growth stocks

Hip stocks have been among the worst casualties of the tech sell-off, down 22% so far this year compared to the 13.5% decline in Nasdaq

The Nasdaq fell more than 1% on Monday, leading Wall Street's main indexes lower, as rising bond yields weighed on megacap stocks such as Microsoft and Apple with investors on edge ahead of Tuesday's inflation data.
 

Shares of Microsoft Corp, Apple Inc and Nvidia Corp fell between 1.9% and 4.1% as the benchmark 10-year Treasury yield climbed to 2.75% after touching a fresh three-year high earlier in the day.
 

The S&P 500 technology index slid 1.9%, the most among the 11 major S&P sectors, while the Philadelphia semiconductor index dropped 1%.
 

Market-leading growth and technology stocks, that were underpinned by