Investing.com - Twitter shares were among the biggest losers in the S&P midday as its chief executive testified on Capitol Hill, while Netflix (NASDAQ:NFLX) was dragged down by the tech selloff.
Twitter (NYSE:TWTR) fell about 5.4% at 11:25 AM ET (15:25 GMT) and Netflix lost about 5%.
The S&P Info Tech sector index fell about 1.8%.
Tech stocks struggled as investors took the opportunity of Twitter CEO Jack Dorsey and Facebook (NASDAQ:FB) COO Sheryl Sandberg testifying before Congress on election interference and moderating content, including charges of censorship.
Facebook lost about 2% and Google parent Alphabet (NASDAQ:GOOGL), which chose not to send a representative to the hearings, slipped about 2.6%.
But cannabis stocks were stronger as a recent deal overshadowed the attention of a prominent short seller.
On Tuesday, Cronos Group announced a deal with Ginkgo Bioworks to extract compounds from cannabis for medical purposes. Also on Tuesday, short seller Citron, which had already expressed skepticism about Cronos, called Tilray the most expensive in the space in a tweet.
Cronos (NASDAQ:CRON) shares gained about 10.5%, Tilray (NASDAQ:TLRY) rose about 8.3% and Canopy Growth (NYSE:CGC) was flat.