Nasdaq futures drop sharply as Facebook data leak weighs [Reuters]
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Source: Reuters
Nasdaq futures drop sharply as Facebook data leak weighs | Reuters 3 Min Read (Reuters) - Nasdaq stock index futures dropped sharply on Monday as reports of Facebook’s user data being misused weighed on technology stocks and the broader market also bracing for signals from the Federal Reserve for the future path of interest rate hikes. While it is near certain that the Fed will raise rates by a quarter basis point on Wednesday, investors are more focused on whether policymakers think economic conditions are strong enough for four hikes this year, one more than the markets expect. Shares of Facebook ( FB.O ) fell about 4 percent in premarket trading in the wake of reports that the personal data of 50 million users were misused by a political consultant, prompting a review by the company and expressions of concern by several U.S. lawmakers. “I don’t think anyone’s expecting any surprises (from the Fed) ... but the bigger factor has been the surrounding the big technology companies, pa
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