'FAANG' Stocks Drop Premarket As Tech Selloff Continues

By Tomi Kilgore Markets MarketWatch Pulse

The selloff that rocked the technology sector at the end of last week looks set to continue, as shares of the so-called FAANG stock are all lower in premarket trade Monday. Facebook Inc.'s stock shed 1.1% in premarket trade, after falling 3.3% on Friday. Apple Inc. shares slumped 2.4% ahead of the open, with help from a downgrade at Mizuho to neutral from buy, after tumbling 3.9% on Friday. Shares of Amazon.com Inc. dropped 1.3%, Netflix Inc. shed 1.9% and Google parent Alphabet Inc. declined 0.8% in premarket trade. The SPDR Technology Select Sector ETF lost 1.2% ahead of the open, after losing 2.5% on Friday. Nasdaq 100 Index futures were down 1.1%, while S&P 500 futures eased 0.3%.

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