Facebook, Netflix, Twitter on Santa’s Naughty List Midday

0
16

Facebook, Netflix, Twitter on Santa’s Naughty List Midday

Investing.com – Looks like stockings won’t be stuffed with shares of big-name tech stocks next week as investors continued to rotate out of the riskier names.

The S&P 500 Communication Services index fell about 1.3% in midday trading.

Twitter (NYSE:TWTR) was the biggest drag on the index, falling 5.5%. The stock continued its sharp drop from the previous session after Citron Research called the stock “toxic” and the “Harvey Weinstein” of social media.

Facebook (NASDAQ:FB) lost 5%. The stock has been continually under pressure after more reports it breached users’ privacy.

And a Bloomberg report that Facebook is looking to develop its own cryptocurrency couldn’t have helped, given the overall state of the crypto market at the end of the year.

Netflix (NASDAQ:NFLX) also weighed, losing about 4%.

The rotation out of risk resumed late morning after a rally inspired by a dovish interview from New York Fed President John Williams evaporated and attention refocused on a possible prolonged federal government shutdown.

IQ Option accept all countries except Australia, Belgium, Israel, Iran, Canada, Latvia, Pakistan, Palestine, Russia, North Korea, Syria, Sudan, USA, Turkey and Japan. Also on iOS mobile app cannot trade users from: Malta, Cyprus, Dominican Republic; Android app is not available for: Malta, Cyprus, Myanmar, Liechtenstein, Cuba and Dominican Republic.

LEAVE A REPLY

Please enter your comment!
Please enter your name here