Why Adobe, Meta Platforms, and Netflix Are Falling Today
Shares of Adobe (NASDAQ: ADBE), Meta Platforms (NASDAQ: META), and Netflix (NASDAQ: NFLX) were all tumbling today after the latest U.S. Bureau of Labor Statistics report showed that inflation increased faster than expected in August.
Investors had been hoping for inflation to show signs of slowing down, but the increase in costs reminded everyone that it is not yet tamed. As a result, investors sold off shares across the board in the technology sector.
As of 12:13 p.m. ET today, Adobe fell by 5%, Meta plummeted 7.3%, and Netflix was down by 6.2%.
Source Fool.com
