High-growth and technology companies such as Apple Inc AAPL.O and Tesla Inc TSLA.O fell 1.5% and 2.1%, respectively, in trading before the bell on Monday. A four-week summer rally for the Nasdaq and the S&P 500 snapped last week as megacap growth companies slumped on Friday, with the benchmark 10-year Treasury yield hitting nearly 3% on inflation fears. According to economists in a Reuters poll, the Fed will raise rates by 50 basis points in September amid expectations inflation has peaked and growing recession worries.