Tech Stocks Continue to Fall After Snap’s Profit Warning


Technology stocks fell Tuesday, with investors ditching shares of companies that rallied during the pandemic. 

Social-media company

Snap Inc.’s

SNAP 11.92%

shares lost $9.68, or 43%, to $12.79, its largest percentage decline on record. The company issued a profit warning Monday and said it planned to slow hiring and spending. The stock price has tumbled 85% from its September 2021 all-time high.

Other tech stocks that rely on digital advertising spending also fell. Google parent

Alphabet Inc.

slipped $110.36, or 5%, to $2,119.40, while

Meta Platforms Inc.

dropped $14.95, or 7.6%, to $181.28. Streaming-video company

Roku Inc.

was recently down

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