Rising interest rates spooked investors on Wednesday, who fled from the stock market, concerned about the prospects of a major slowdown in economic growth and corporate profits. Tech stocks were hit particularly hard.

While the Standard & Poor’s 500 Index dropped over 3%, most major tech names lost even more. Apple (aapl, +0.62%) fell 4%, Google parent Alphabet (googl, +0.90%) lost 5%, and Amazon (amzn, -1.53%) dropped 6%. Last month, the e-commerce giant was only the second U.S. public company ever, after Apple, to exceed $1 trillion in stock market value but it has sold off…