Falling tech stocks drop Nasdaq 1.4 percent

July 30 (UPI) -- The Nasdaq composite dropped 1.4 percent on Monday as major tech stocks declined.

The Nasdaq fell to 7,630 at the end of trading Monday, continuing a three-day drop of 3.86 percent, the largest since late March when it fell 5.12 through three sessions, CNBC reported.

Facebook shares dropped 2.2 percent Monday after falling 19 percent Thursday in the wake of an earnings forecast that projected a revenue drop.

Netflix also fell 5.5 percent, while Amazon and Google's parent company, Alphabet, fell 2.1 percent and 1.8 percent respectively.

The S&P 500 declined 0.6 percent to 2,802.60, with the tech sector falling 1.8 percent, as Twitter shares experienced the largest decline at 8 percent. Take-Two Interactive also fell 7.7 percent, Electronic Arts dropped 5.7 percent and Akamai Technologies dropped 5.5 percent.

A 4.2 percent decline by Visa and a 3 percent drop by American Express also contributed to a 144.23-point decline for the Dow Jones Industrial Average, which closed at 25,306.83.