Nasdaq drops 1 percent as Facebook leads slide in tech stocks [Reuters]
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Source: Reuters
Nasdaq drops 1 percent as Facebook leads slide in tech stocks | Reuters 3 Min Read (Reuters) - U.S. stocks fell on Monday, with the Nasdaq dropping more than 1 percent, as Facebook’s ( FB.O ) shares tumbled about 5 percent on reports that data of 50 million users were misused. Facebook shares dropped, on track for their worst day in 16 months, on media reports that a political consultancy that worked on President Donald Trump’s campaign gained inappropriate access to data on 50 million Facebook users. The S&P technology index .SPLRCT, which has powered the stock market’s near relentless rally, retreated 1.2 percent. Amazon ( AMZN.O ), Apple ( AAPL.O ), Netflix ( NFLX.O ) and Alphabet ( GOOGL.O ) – all part of the so-called FAANG group of heavyweight stock, along with Facebook – were down between 0.7 percent and 2.25 percent. The Federal Reserve’s policy meeting, over Tuesday and Wednesday, is also in focus as investors brace for a near-certain interest rate hike this week an
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