Dow drops in worst day since June | Bond yields climb | Finding stocks with growth at a reasonable price

The summer rally is grinding to a halt.

VIEW IN BROWSER | SUBSCRIBE MON, AUG 22, 2022 EVENING BRIEF AS OF MON, AUG 22, 2022 • 05:15 ET DJIA 33063.61 -1.91% -643.13 S&P 500 4137.99 -2.14% -90.49 NASDAQ 12381.57 -2.55% -323.64 Most Active DOW NAME LAST CHG %CHG AAPL 167.57 -3.95 -2.30% INTC 33.84 -1.54 -4.35% MSFT 277.75 -8.40 -2.94% S&P 500 NAME LAST CHG %CHG F 15.08 -0.80 -5.04% AAPL 167.57 -3.95 -2.30% AMD 92.84 -3.11 -3.24% NASDAQ NAME LAST CHG %CHG AAPL 167.57 -3.95 -2.30% AMD 92.84 -3.11 -3.24% INTC 33.84 -1.54 -4.35% EDITOR'S NOTE The summer rally pulled back further after the Dow Jones Industrial Average plunged more than 600 points, and notched its worst day since June.    Investors expect that Federal Reserve Chairman Jerome Powell's speech at the annual Jackson Hole symposium on Friday could point to more interest rate hikes ahead, after recent hawkish comments from other Fed officials.     "When you see the market right now dropping down like this, this is the market saying the Fed has to be more aggressive to slow the economy down further" if they want to bring inflation back down, said Robert Cantwell, portfolio manager at Upholdings.   It was the worst day of trading since June 16 for the Dow and the S&P 500. All 11 sectors in the S&P 500 were in the red with consumer discretionary, information technology and communication services the biggest losers.    Investors retreated from growth and tech stocks. Shares of megacap tech stocks such as Alphabet, Apple and Meta Platforms were each down more than 2%. Amazon was down 3.6%. Semiconductor stocks were also down with Nvidia shares roughly 4.6% lower.  Sarah Min | Investing Reporter at CNBC Pro @_sarahmin Watch our live stream for all you need to know to invest smarter. TOP NEWS  Dow slumps 600 points Monday to wrap worst day since June as summer rally fades AMC's new 'APE' units are a meme-friendly way for the theater chain to raise cash fast Ford to eliminate 3,000 jobs in an effort to cut costs White House chief medical advisor Dr. Anthony Fauci to step down in December after more than 50 years of public service Finding stocks with growth at a reasonable price in this tough market environment Rising bond yields are just one negative chart sign for stocks as investors await Fed's Jackson Hole symposium Pfizer asks FDA to authorize Covid booster shots that target omicron BA.5 for people ages 12 and older Trump PAC paid nearly $1 million to defense lawyers in July alone as Georgia and New York probes heated up Bed Bath & Beyond is still overvalued as bankruptcy risk looms, Wedbush says Car bomb murder outside Moscow triggers accusations; Ukraine on alert for Independence Day attacks TOP VIDEO Again Capital's John Kilduff explains why heating bills will 'likely' be doubling this year CNBC PRO Cash is king for investor portfolios right now, according to Morgan Stanley SPECIAL REPORTS Single-stock ETFs are 'way too risky for 99% of investors,' advisor says. What to know before adding one to your portfolio 50% of employers expect job cuts, survey finds. Here's how to prepare for a potential layoff Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS