Tesla stock popped late as earnings growth accelerates. Netflix and Facebook led Wednesday's Nasdaq retreat. Read More...
Reuters
Nasdaq drops as Netflix subscriber numbers weigh on tech
The tech-heavy Nasdaq dropped on Wednesday as Netflix’s surprise decline in subscribers weighed on both the streaming giant and other high-growth companies, which investors feared may face similar post-pandemic performance issues. Netflix Inc plunged 35.1%, its largest one-day fall in over a decade, after it blamed inflation, the Ukraine war and fierce competition for the subscriber decline and predicted deeper losses ahead.
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