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.
From:: Stock Market News