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Tech stocks fall with Facebook on track for biggest drop ever

July 26, 2018 / John Melloy

The tech-heavy Nasdaq fell sharply on Thursday after disappointing quarterly results from Facebook sent the social media giant hurtling toward its biggest share price decline ever and on track to lose more than $100 billion in market value. The Invesco QQQ Trust, which tracks the Nasdaq 100 index and can give traders a good idea of how the Nasdaq stocks will trade, was down more than 1 percent. Facebook lost about a fifth of its value.