'FAANG' Stocks Drop Premarket As Tech Selloff Continues

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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