Facebook led a rout of tech stocks and broader market indexes Monday amid outages at its core services and news that the whistleblower behind a recent series of damning stories in the Wall Street J…
and broader market indexes Monday amid outages at its core services and news that the whistleblower behind a recent series of damning stories in the Wall Street Journal will testify before Congress tomorrow.
Facebook shares were down by $324 or more than 5% as the Nasdaq dropped 340 points. The DJIA shed about 400 points. Facebook’s mounting woes were compounded by economic jitters that hit tech stocks the hardest. Twitter and Snap plunged by more than 6%, Roku by 5%. Spotify was off 4% and Apple, Amazon and YouTube parent Google dipped about 3%. Netflix was dragged lower as well, losing 2.6%.
The sharp downturn comes amid jitters over supply chains and ahead of a a week full of economic data on inflation and the pace of the labor market recovery. Lawmakers haven’t yet agreed on a solution to raise the debt limit and avert a potential government default, a situation that Treasury Secretary Janet Yellen warned last week could create a financial crisis and potential recession.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Willett leads heading into final round of Alfred Dunhill Links ChampionshipFormer Masters champion Danny Willett produced an impressive bogey-free round of six-under 66 to claim a three-shot lead at the end of the third round of the Alfred Dunhill Links Championship on Saturday.
Read more »
One Puerto Rican’s quest for statehood leads to a racial awakeningPuerto Rican Kemuel Delgado hates having 'one foot in and one foot out' of America. But race wasn't on his mind when he began pushing for statehood.
Read more »
Why Self-Acceptance Leads to Self-Possession'Only when you accept the facts of your life fully, and make choices based on evidence, not fantasy, are you able to make meaningful changes'
Read more »
Whistleblower: Facebook relaxed election safeguards, which led to Capitol riotA whistleblower says Facebook turned off crucial safety measures too soon after the 2020 US elections, like limits on live video.
Read more »
Facebook whistleblower reveals identity, accuses the platform of a 'betrayal of democracy'Frances Haugen, a former product manager on Facebook's civic misinformation team, revealed herself as the whistleblower behind the leaked documents.
Read more »
'A Betrayal of Democracy': What We Learned From the Facebook Whistleblower InterviewThe social network repeatedly chose “profits over public safety,” said former employee Frances Haugen
Read more »