United States : US: Facebook dives, weighing on stocks

United States : US: Facebook dives, weighing on stocks

Jul 27, 2018 (Euclid Infotech Ltd via COMTEX) —

US stocks mostly fell on Thursday, with Facebook plummeting on disappointing results, as investors reacted to the US-European Union trade announcement with a mixture of optimism and caution.

The tech-rich Nasdaq Composite Index stumbled one percent to 7,852.18, weighted down by Facebook, which lost nearly 20 per cent, its biggest daily loss ever.

The broad-based S&P 500 shed 0.3 per cent to 2,837.43, while the Dow Jones Industrial Average advanced 0.5 per cent to 25,527.68.

The session was the first full day of trading after US President Donald Trump and European Commission President Jean-Claude Juncker agreed to suspend additional tariff actions while they negotiate a broader agreement, deescalating a trade war.

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