Stocks dive in tech-led selloff
The main U.S. stock indexes plunged on Monday, weighed down by negative news about Apple and Facebook.
Facebook shares fell by nearly 6 percent in continued fallout from a New York Times report on the social network's aggressive response to criticism over its handling of fake news and other efforts to influence public opinion. Apple shares fell by 5 percent after a Wall Street Journal report that disappointing sales had prompted the company to cut orders for its latest iPhones. Shares of Google-parent Alphabet also fell by 4 percent.
The Dow Jones Industrial Average closed down by 1.6 percent, while the tech-heavy Nasdaq Composite lost 3 percent and the S&P 500 dropped by 1.7 percent. Stock futures fell further early Tuesday, Fox Business reports, suggesting more tech-fueled selling.
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Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.
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