Netflix Sees Drastic Stock Drop

Netflix plunged as much as 4.89% Wednesday, hitting a low of $321, a level not seen in more than three months. Shares are trading in a bear market — down more than 23% from their June highs.
Wednesday's selling comes as tech stocks have come under pressure in the wake of Chinese tech giant Tecent reporting its first profit drop in almost 13 years. The disappointing results have reignited fears the tech giants responsible for the market's gains this year are becoming vulnerable.