Netflix shares plunge 30% after massive subscriber loss

Makes it the worst performing stock in the broad S&P 500 and the tech-heavy Nasdaq 100 indexes

Netflix’s stock has suffered this year as the pandemic-era surge in user sign-ups faded.

Netflix tumbled 30% today extending a selloff that has set it on course for a $46bn (€42.5bn) wipeout in market value, after it reported a sharp decline in its subscriber base.

Netflix traded as low as $244.95 (€226.11) at the open in New York, extending its plunge this year to 60% -- making the worst performing stock in the broad S&P 500 and the tech-heavy Nasdaq 100 indexes.