A sharp decline in technology stocks this week has affected participants in a stock picking competition launched by the Financial Times on October 5. Nearly 15,000 individuals have registered for the game, which remains open for new entrants.

Contestants select portfolios comprising between five and 20 stocks, adjusting holdings and trading freely throughout the duration. The competition has seen a strong preference for technology and semiconductor companies, sectors that have experienced significant volatility recently.

Meta Platforms was notably impacted, with its shares dropping 7 percent on Thursday despite reporting earnings that exceeded analyst expectations the previous evening. Market reaction was dampened by concerns over the company’s negative free cash flow and increased capital expenditure on artificial intelligence development.

The downturn in major tech and chip stocks has resulted in many players seeing losses in their game portfolios. Participants continue to monitor market conditions closely as they navigate the challenging environment.