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Shares of Facebook on Monday tumbled below a closely followed long-term trend line, which some market technicians may view as a bearish signal. Facebook Inc.’s shares were down 7.5% in midday trade, putting it on pace for its worst single-session decline since September 2012, but also threatening to push the social-network giant’s shares below its 200-day moving average at $172.55, according to FactSet data. Most recently, Facebook was trading at $171.02. Market technicians tend to watch moving averages to help gauge bullish and bearish sentiment in an asset. The decline in the Menlo Park, Calif.-based company came as The company’s shares were down about 7% Monday afternoon at $172, with the stock on track to post the worst one-day decline since Sept. 24, 2012, according to FactSet data. U.S. and British lawmakers slammed Facebook over the weekend for not providing more information about how the data firm, Cambridge Analytica, came to access information about potentially tens of millions of the social network’s members without their explicit permission around the time of the 2016 presidential election, which was sparking a wave of selling in the company, putting pressure on the broader market. The Dow Jones Industrial Average was off 313 points, or 1.3%, at 24,628, the S&P 500 index retreated 1.5% at 2,710, while the technology-focused Nasdaq Composite Index was down 2.3% at 7,311.

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From:: Stock Market News

The Cboe Volatility index jumped on Monday, spiking amid a broad selloff in the U.S. equity market that was largely attributable to a sharp drop in shares of Facebook. The VIX gained 21.7%, or 3.4 points, to 19.22, a level that is below its long-term average of 20. The jump came as stocks declined broadly; the Dow Jones Industrial Average fell 1.3% while the S&P 500 lost 1.5% and the Nasdaq Composite Index shed 2.3%. The day’s weakness was largely due to Facebook , which dropped 7.5% and was on track for its biggest one-day percentage decline since September 2012. The stock came under heavy selling pressure over how it manages third-party access to its users’ information, after saying a firm with ties to the 2016 Trump campaign improperly kept member data for years despite saying it had destroyed those records. While technology was the biggest decliner on the day, losing 2.7%, the day’s losses were broad. All 11 of the primary S&P 500 sectors were lower on the day. The VIX is up more than 70% thus far in 2018, although it has seen sharp fluctuations over that period. Many of the moves have come on questions over whether inflation is returning to the market, and whether the Federal Reserve could become more aggressive in raising interest rates to combat such a scenario.

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The Securities and Exchange Commission said it’s awarded its highest-ever whistleblower award — giving one whistleblower more than $33 million, and splitting nearly $50 million between two. The previous high was a $30 million award in 2014. Whistleblowers can collection between 10% to 30% when monetary sanctions exceed more than $1 million. The SEC has awarded more than $262 million to 53 whistleblowers since issuing its first award in 2012. The SEC doesn’t identify the whistleblowers or even the cases involved.

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From:: Stock Market News

Shares of Facebook Inc. are on track to post their worst daily drop in about five years amid concerns about how the social-media giant managed user data. The company’s shares were down about 7% Monday afternoon at $172, with the stock on track to post the worst one-day decline since Sept. 24, 2012, according to FactSet data. U.S. and British lawmakers slammed Facebook over the weekend for not providing more information about how the data firm, Cambridge Analytica, came to access information about potentially tens of millions of the social network’s members without their explicit permission around the time of the 2016 presidential election. Selling in Facebook was weighing on the broader technology sector . Among other social-media companies, Twitter Inc. fell 0.6% while Snap Inc. shares were down 2.5%. Shares of Facebook turned negative for the year, compared with the Dow Jones Industrial Average which also was narrowly negative for the first three months of 2018. The Dow was off 287 points on the day at 24,657, the S&P 500 index was down 1.3% at 2,715, but up 1.5% year to date. The technology laden Nasdaq Composite Index , however, was down 2.2% at 7,320, enduring the biggest fall on the day from the pressure in tech names. For the year, the benchmark was up 6.4%. Because Facebook boasts a market value of more than $500 billion it can influence many market-capitalization-weighted indexes, dragging them higher or lower.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Facebook Inc. has shed about $34 billion in market value since Friday as shares of the social-media giant skid 6% lower. Facebook’s stock was recently down 6.4% on Monday, putting the Menlo Park, Calif.-based technology giant on track for its worst daily drop since March 29, 2014, with that downturn equating to a $34.24 billion loss in market value, from its value of $537.67 billion at Friday’s close, according to FactSet data. The social network has come under firepegged to how it has managed users’ information, after the company announced that a firm with ties to the 2016 Trump campaign improperly kept data for years despite saying it had destroyed those records. Facebook’s decline was weighing on the broader market by virtue of its size and the company’s influence on sentiment. The Dow Jones Industrial Average was recently off 250 points, or 1%, at 24,696, while the S&P 500 index was down 1.1%, with technology shares suffering the worst daily decline among the broad-market benchmark’s 11 sectors. Meanwhile, tech-laden The Nasdaq Composite Index was off 1.7% at 7,352.

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From:: Stock Market News

U.S. stocks fell sharply on Monday, with all 11 of the primary S&P 500 sectors lower on the day. By far the biggest declining group was technology, which fell 1.9% and was on track for its biggest one-day percentage decline since Feb. 8. The day’s weakness was principally due to Facebook Inc. , which fell 6.3% in its biggest one-day drop since March 2014 as it came under heavy selling pressure for how it has managed user data. Among other decliners, energy shares fell 1.3% while the materials sector was down 1.2%. Utility stocks saw the narrowest decline on the day, down 0.1%. The Dow Jones Industrial Average fell 1% while the S&P 500 shed 1% and the Nasdaq Composite Index was down 1.6%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Shares of Facebook Inc. are on track to post their worst daily drop in about four years amid concerns about how the social-media giant managed user data. The company’s shares were down 6.3% early Monday at $173.43, with a single-session fall of greater than 6.94% representing its worst one-day decline since March 26, 2014, according to FactSet data. U.S. and British lawmakers slammed Facebook over the weekend for not providing more information about how the data firm, Cambridge Analytica, came to access information about potentially tens of millions of the social network’s members without their explicit permission around the time of the 2016 presidential election. Selling in Facebook was weighing on the broader technology sector . Among other social-media companies, Twitter Inc. fell 0.6% while Snap Inc. shares were down 2.5%. Shares of Facebook turned negative for the year, compared with the Dow Jones Industrial Average which also was narrowly negative for the first three months of 2018. The Dow was off 212 points on the day at 24,756, the S&P 500 index was down 0.9% at 2,727, but up 2% year to date. The technology laden Nasdaq Composite Index , however, was down 1.3% at 7,383, enduring the biggest fall on the day from the pressure in tech names. For the year, the benchmark was up 7%. Because Facebook boasts a market value of more than $500 billion it can influence many market-capitalization-weighted indexes, dragging them higher or lower.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

The two largest exchange-traded funds to track Russia’s equity market fell on Monday, extending a recent stretch of weakness. The VanEck Vectors Russia ETF fell 0.6% while the iShares MSCI Russia ETF was down 0.9%. Both were on track for their fifth negative session of the past six, although both are solidly higher for the year. The iShares fund is up 8.1% while the VanEck ETF has gained 7%. Over the weekend, Russian President Vladimir Putin won re-election by a wide margin, as had been widely expected. Putin will start a new six-year term at a time of sharply deteriorating relations with Western adversaries, who accuse him of military adventurism in Ukraine and Syria and hostile attacks ranging from election meddling to attempted assassinations. Russian stocks, while positive thus far this year, struggled throughout 2017, ending up among the year’s worst performers, based on single-country funds. U.S. crude futures fell 0.2% on Monday while Brent crude, the international benchmark, was down 0.2%. Russian stocks are highly correlated with the price of oil. The Dow Jones Industrial Average fell 0.9% on Monday while the S&P 500 was off 0.9% and the Nasdaq Composite Index fell 1.3%.

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Sens. Amy Klobuchar, a Minnesota Democrat, and John Kennedy, a Louisiana Republican, jointly called for Senate Judiciary Committee Chairman Chuck Grassley to hold a hearing with CEOs of technology companies. “Facebook , Google , and Twitter have amassed unprecedented amounts of personal data and use this data when selling advertising, including political advertisements. The lack of oversight on how data is stored and how political advertisements are sold raises concerns about the integrity of American elections as well as privacy rights,” the senators wrote.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Shares of Facebook Inc. are on track to post their worst daily drop in about two years amid concerns about how the social-media giant managed user data. The company’s shares were down 5.7% early Monday at $174.55, with a single-session fall of greater than 5.64% representing its worst one-day decline since Feb. 5, 2016, according to FactSet data. U.S. and British lawmakers slammed Facebook over the weekend for not providing more information about how the data firm, Cambridge Analytica, came to access information about potentially tens of millions of the social network’s members without their explicit permission around the time of the 2016 presidential election. Selling in Facebook was weighing on the broader technology sector . Among other social-media companies, Twitter Inc. fell 0.6% while Snap Inc. shares were down 2.5%. Shares of Facebook turned negative for the year, compared with the Dow Jones Industrial Average which also was narrowly negative for the first three months of 2018. The Dow was off 195 points on the day at 24,756, the S&P 500 index was down 0.8% at 2,732, but up 2.2% year to date. The technology laden Nasdaq Composite Index , however, was down 1.1% at 7,401, enduring the biggest fall on the day from the pressure in tech names. For the year, the benchmark was up 7.2%. Because Facebook boasts a market value of more than $500 billion it can influence many market-capitalization-weighted indexes, dragging them higher or lower.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News