Cybersecurity giant CrowdStrike Holdings (NASDAQ: CRWD) was down by nearly 5%, while database software companies Datadog (NASDAQ: DDOG) and MongoDB (NASDAQ: MDB) were down by 5% and 8%, respectively. For one thing, rising rates make lower-risk assets (Treasury bonds, for example) more attractive, so it tends to cause a rotation out of riskier high-growth names like these. What's more, Federal Reserve Chairman Jerome Powell recently indicated that the central bank was prepared to act aggressively with rate hikes to help bring inflation under control.