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Why Tech Stocks Dropped on Friday

·2-min read

Technology stocks had another rough day on Friday, and the biggest reason appeared to be Snap's (NYSE: SNAP) earnings report. The news of Snap's poor results hit a host of technology companies that could be impacted by similar trends. Asana (NYSE: ASAN) was down by as much as 10.6% during the session, Unity (NYSE: U) dropped by as much as 10.9%, DocuSign (NASDAQ: DOCU) fell 6%, and HubSpot (NYSE: HUBS) dropped 7.6%.