Facebook Plunges, Other Tech Stocks Decline

Broad decline on Wall Street Monday
By Newser Editors and Wire Services
Posted Mar 19, 2018 3:16 PM CDT
Facebook Plunges, Other Tech Stocks Decline
Traders Michael Milano, left, and Ryan Falvey work on the floor of the New York Stock Exchange, Friday, March 16, 2018.   (AP Photo/Richard Drew)

Technology stocks led a broad decline on Wall Street, led by a plunge in Facebook following reports that a company employed by the Trump campaign improperly obtained data on tens of millions of users, the AP reports. Facebook sank 7% in heavy trading Monday, its biggest daily drop in four years. Other technology stocks, which have far outpaced the rest of the market, also fell. Google's parent company, Alphabet, lost 3%. Safe-play stocks like utilities and phone companies fared better. The S&P 500 index fell 39 points, or 1.4%, to 2,712. The Dow Jones industrial average lost 335 points, or 1.3%, to 24,610. The Nasdaq composite fell 137 points, or 1.8%, to 7,344. (More stock market stories.)

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