Netflix Shares Lead FAANG Stocks Down In Broader Market Selloff

Shares of Netflix Inc. were down 2.5% in premarket trade on Thursday leading FAANG stocks and the tech sector down amid a broad market selloff. Of the FAANG stocks, Facebook Inc. and Amazon.com Inc. were down more than 1%, while Alphabet Inc. (Google) fell nearly 2%. The selloff in FAANG stocks extends a selloff this week, in which Netflix, along with a few other tech stocks, crept into correction territory. Along with the FAANG stocks, Twitter Inc. was down nearly 2% in premarket trade on Thursday, while shares of Apple Inc. and Microsoft Corp. fell 1%. Nasdaq 100 futures were down 1% in premarket trade on Thursday.