Google (NasdaqGS: GOOG) shares plunged 9% before being halted after the search engine giant accidentally reported third-quarter financial results Thursday that disappointed Wall Street.
The pullback in Google and fellow sector bellwether Apple (NasdaqGS: AAPL) was another hit to technology ETFs, which have been trailing the market since the beginning of September.
The $9.8 billion Technology Select Sector SPDR (NYSEArca: XLK) is down nearly 4% the past month, while iShares S&P 500 (NYSEArca: IVV) is flat. XLK slipped 1% on Thursday.
Google is the fifth-largest stock in the technology ETF at 6.7% of the portfolio. Apple is the biggest holding at 20.3% — the stock was down about 2% on Thursday. [Equal-Weight Tech ETFs if You’re Shy About Apple]
Apple’s recent slide after a brief rise above $700 a share has hurt other popular tech ETFs such as the Nasdaq-100 PowerShares QQQ (NasdaqGM: QQQ). [Tech ETFs See Outflows as Apple Slips]