Twitter (TWTR) Down 6% Amid Rout

(Updated - July 8, 2014 10:58 AM EDT)

Twitter (NYSE: TWTR) declined over 6% Tuesday as Nasdaq stocks sold off. Yelp (NYSE: YELP) was lower by about the same amount. Zillow (Nasdaq: Z) was also seeing pressure, down about 4%.

The list of decliners did not stop there -- Tesla Motors, Inc. (Nasdaq: TSLA), Netflix, Inc. (Nasdaq: NFLX), Facebook, Inc. (Nasdaq: FB), FireEye, Inc. (Nasdaq: FEYE), etc. etc. With April’s blood-bath in software, Internet and other high-flying tech names still fresh in the minds of many traders, so far Tuesday isn’t shaping up to be a great day on Wall Street.

The decline in tech follows an impressive jobs report last week, a connection that is not lost on the market considering fears about Fed tightening. Earnings season is also in focus, with Alcoa (NYSE: AA) set to report after the close and unofficially kick off the second quarter earnings season.

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