Wall Street tumbles as tech stocks extend slide; Dow falls 400 points

Goldman Sachs expects Fed to hike rates four times in 2022; Tesla down on price hike plan for driver assistant software

Wall Street's main indexes tumbled on Monday as heavyweight technology stocks dropped on expectations of a high interest rate environment, which pushed U.S. Treasury yields to fresh two-year highs and supported banks.

Megacap companies including Apple Inc, Amazon.com Inc, Microsoft Corp, Meta Platforms Inc and Tesla Inc fell between 2.1% and 4.4% in early trading.

The S&P 500 consumer discretionary, technology and communication services sectors, housing major growth companies, fell the most among the 11 major S&P sectors.

The value-oriented banks index hit a fresh record high, before retreating.

The S&P 500 and the tech-heavy Nasdaq indexes were on course for their fifth straight