Reddit Stock Falls Ahead of Joining the S&P 500

Reddit stock was falling on Tuesday, with the social-media platform set to join the before the market opens. Futures tracking the S&P 500 were 0.5% lower as a recent chip rally ran out of steam. S&P Dow Jones Indices said last week that Reddit would replace AvalonBay Communities in the S&P 500 before trading opens on Tuesday.