growth stocks have suffered some of the steepest declines in monday’s selloff with the informationtechnology communicationservices and consumerdiscretionary sectors being among the hardest hit in the sp 500 index spx in afternoon trading among exchangetraded funds the technology select sector spdr fund xlk was down 28 while the communication services select sector spdr fund xlc tumbled 29 and the consumer discretionary select sector spdr fund xly dropped 28 according to factset data at last check investors are reconsidering stockmarket valuations after a big rally earlier this summer growth stocks are suffering more than value stocks in monday’s slump after outperforming so far in the third quarter the ishares russell 1000 growth etf iwf was sliding around 24 monday afternoon while the ishares russell 1000 value etf iwd shed 19 factset data show at last check read ‘uncomfortable’ with sp 500 valuations investors may still find ‘bargains’ in smallcap stocks says rbc the us stock market has kicked off this week extending last week’s declines as investors look ahead to federal reserve chair jerome powell’s speech in jackson hole wyo on friday for clues on the path of the fed’s monetary tightening policy tech and other growth stocks had been particularly battered during the first half of this year as investors anticipated interestrate hikes by the fed in an effort to combat soaring inflation but growth stocks saw a big rebound over the summer as the market began to expect the fed could become less aggressive in tightening its policy amid signs that us inflation was easing the sp 500 was down 21 monday afternoon while the techheavy nasdaq composite comp dropped 25 and the dow jones industrial average djia fell 19 according to factset data at last check the 10year treasury rate tmubmusd10y also was back above 3 monday which often can weigh on the outlook for growth stocks see bond market warns of more pain for stocks as the 10year yield tops 3