Facebook’s Record Selloff Drags Down Other Tech Stocks
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A record selloff in Facebook Inc. shares spread to other technology stocks after the social media giant missed revenue estimates and warned that sales growth would continue to slow.
An exchange-traded fund tied to the Nasdaq 100 fell as much as 2.3 percent in extended trading before paring some of the losses. Netflix Inc. shed as much as 3.6 percent, while Alphabet Inc. slumped 2.4 percent. Twitter Inc., which reports earnings on Friday, fell as much as 6.5 percent.