Wall Street: Nasdaq slumps more than 2% on fears of aggressive Fed

Megacap growth, tech stocks extend losses; AMC tumbles as UK's Cineworld mulls bankruptcy filing

Wall Street's main indexes tumbled on Monday in a dour start to the week as investors worried about hawkish signals from U.S. Federal Reserve policymakers against the backdrop of slowing economic growth.

Ten of the 11 major S&P 500 sectors declined in mid-day trading, with information technology, consumer discretionary and communication services stocks down 2% each.

High-growth and technology companies such as Apple Inc and Tesla Inc fell 1.7% and 2.8%, respectively, as the benchmark 10-year U.S. Treasury yield rose past 3% for the first time since July 21.

A four-week summer rally for the Nasdaq and the S&P 500 snapped last week