In rather unusual fashion, the market sold off today, led by none other than technology shares. Investors turned against the tech sector after Facebook disclosed that a firm tied to President Donald Trump's 2016 election campaign had illegally kept personal data, despite saying it had destroyed those records.
Facebook sold off strongly after the report, and ended the day down nearly 7%. It dragged the entire technology sector with it, which declined 1.98% in a vicious session. With tech leading the way down, nearly all major averages followed suit. The Industrials closed down 335 points or 1.35%, while the Transports declined 0.35%, the Nasdaq fell 1.84% and the S&P 500 slipped 1.42%.
Markets overseas showed the same downward trend, most notably in Europe, where every major index closed in the red. The Stoxx 600 finished down 1.07%, and the Europe Dow put in a similar performance, down 1.01% for the day. Action was more ... Log in or subscribe to continue reading.