Shares of Netflix Inc. were down as much as 3% in premarket trade on Tuesday after dropping roughly 5% on Monday as the broader market continues to sell off. Netflix shares are now down more than 11% from its Jan. 29 intraday high. Other stocks in the FAANG category continued their downward trend in premarket on Tuesday as broader market sank. Facebook Inc. and Amazon.com Inc. were down more than 1%, Apple Inc. was down a little less than 1% and Alphabet Inc. (formerly Google) was down 2%. Some of Netflix’s cohorts in the media sector were also struggling in premarket trade. Walt Disney Co. shares were down more than 2%, while shares of Viacom Inc.’s commonly-owned class B shares were down roughly 4% and shares of Discovery Communications Inc. were down more than 3%.
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