Tech Stocks Set to Drop After Facebook Profit Disappoints
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The rally in U.S. stocks looked set to stumble as investors hammered shares of Facebook owner Meta Platforms premarket and awaited earnings from Amazon.com , Ford Motor and Snap.
Futures for the technology-focused Nasdaq-100 dropped 1.9% Thursday, signaling tech stocks will come under pressure. The tumble came as investors wiped 22% off the stock price of Meta, which painted a gloomy outlook in its earnings report, in premarket trading.
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