Tech shares fall 1%, weighing on broader market; Apple and Alphabet both tumble

The largest exchange-traded fund to track the technology sector fell on Thursday, erasing an earlier gain and leading the broader market lower. The Technology Select Sector SPDR ETF

XLK, -0.38%

fell 1.1% in afternoon trading, dropping to $57.10. Earlier, it had risen as high as $58.20, largely on the back of positive results out of Facebook Inc.

FB, +2.92%

While the social media giant was still positive on the day, up 2.3% to $169, it was well off its highs of the session, having previously gained as high as $175.49, a level that represented a record. Among the most notable names, Apple Inc.

AAPL, -1.89%

sank 2.9% while Google parent Alphabet

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