Netflix shares tumbled, weighing on the S&P 500 and the Nasdaq, after the streaming giant forecast weak subscriber growth.
Netflix shares tumbled, weighing on the S&P 500 and the Nasdaq, after the streaming giant forecast weak subscriber growth.“It has really been a continuation of a tech rout,” said Paul Nolte, portfolio manager at Kingsview Investment Management. “It’s really a combination of a rotation out of technology as well as very poor numbers from Netflix that I think is the catalyst for today.”
Investors are keenly focused on next week’s Fed meeting for more clarity on the central bank’s plans to tighten monetary policy in the coming months, after data last week showed US consumer prices in December had the largest annual rise in nearly four decades.
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