Investing.com - Even without a big-name earnings report, tech stocks are still driving market direction in midday trading.
Several major technology companies saw sharp selloffs from the start of trading, and the S&P Technology Sector index was down about 1.6% at 11:45 AM ET (15:45 GMT).
Netflix (NASDAQ:NFLX) was among the hardest hit, falling about 4.7%. The stock is now down about 19% from its highs earlier this month.
In the video game sector, Electronic Arts (NASDAQ:EA), which gave weak guidance last week, sank about 4.4% and Take-Two Interactive Software (NASDAQ:TTWO) lost about 6%.
Twitter (NYSE:TWTR), which plunged last week after reporting a disappointing monthly active users quarterly number, continued to struggle, sinking about 6.5%.
Investors are still digesting a wild week of earnings that, besides Twitter, also saw Facebook (NASDAQ:FB) post the biggest one-day market-cap loss in history and Intel (NASDAQ:INTC) tumble on weak data center revenue. Even Amazon (NASDAQ:AMZN), which gained on a stellar earnings beat, issued weaker-than-expected sales guidance.
Facebook was off about 3.7% midday and Intel lost about 1%.
One bright spot was Intel rival Advanced Micro Devices (NASDAQ:AMD), which continued to gain following Intel’s stumble, rising about 3.7%.