Netflix (NFLX) stock is dropping 5% today after CFO Spence Neumann indicated that the company is not interested in streaming a large number of sporting events in the “near term.” Pouring Water on the Large-Scale Streaming of Sports Speaking yesterday afternoon to a Morgan Stanley analyst,

Shares of Netflix (NFLX) have declined 10% in the last two trading sessions and turned negative on the year as a selloff in the streaming giant

Shares in the streaming giant fell 10 percent during the last two trading sessions on subscriber growth concerns.

Netflix stock has tumbled over the past two trading sessions and that's a negative sign for the overall stock market.