Facebook leads tech slump that weighs on US stock indexes

Facebook leads tech slump that weighs on US stock indexes

6 years ago
Anonymous $RBasgWKaIV

https://apnews.com/08a77400b046480c9906b33847748dec

A steep sell-off in Facebook is leading a slide in technology stocks that weighed on U.S. indexes in early trading Thursday. Investors hammered shares in the social media giant after it reported slower revenue growth in the second quarter. The technology sector's losses outweighed gains in consumer goods companies, banks and industrial stocks.

KEEPING SCORE: The S&P 500 index slid 6 points, or 0.2 percent, to 2,839 as of 10:09 a.m. Eastern Time. The Dow Jones Industrial Average surged 139 points, or 0.6 percent, to 25,553. The Nasdaq composite index lost 74 points, or 0.9 percent, to 7,857. The Russell 2000 index of smaller-company stocks picked up 6 points, or 0.4 percent, to 1,691.

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