Wall Street Stocks Stumble as Facebook Drags Down Technology Sector

Wall Street Stocks Stumble as Facebook Drags Down Technology Sector

Wall Street’s major stock averages fell sharply on Monday as the technology-heavy Nasdaq Composite dropped to its lowest level in eight days.

The Dow Jones Industrial Average fell 1.09%, the S&P 500 dropped 1.26% and the Nasdaq lost 1.97%. The Nasdaq was weighed down by losses of nearly 7% in Facebook

Risk aversion was magnified by this week’s Federal Open Market Committee meeting, losses in shares of Apple ( AAPL ) suppliers, and geopolitical tensions focused on the UK and Russia, and Italy’s post-election political squabbling.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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