Facebook's Premarket Stock Selloff Weighing On Tech-sector Tracker

MarketWatch Pulse

The sharp selloff in Facebook's stock is weighing on the broader technology sector early Wednesday, with the PowerShares QQQ , which tracks the tech-heavy Nasdaq 100 Index, down 0.4% in premarket trade. Meanwhile, the SPDR S&P 500 ETF was down 0.1% and the SPDR Dow Jones Industrial Average ETF was up 0.1%. Facebook's stock, which is the fourth most heavily-weighted component of the QQQs with a 3.94% weighting, was recently down 8.5% in premarket trade after the social network reported disappointing third-quarter monthly active user data. Among other QQQ heavyweights, Apple's stock were down less than 0.1%, Microsoft shares were slipping 0.2% and Google's stock was giving up 0.3%.

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