7/26/2018, 10:01 PM (Source: TeleTrader)
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Wall Street closes mixed as Facebook leads tech plunge

Major stock market indices on Wall Street finished the session on Thursday mixed, with the tech-heavy Nasdaq 100 closing well over 1% in the red. Shares of Facebook dropped 19%, marking the largest one-day loss in market value by any company on US stock markets, after releasing disappointing quarterly results. The social media giant's revenue missed expectations, while the company warned of stunted growth in the quarter ahead.

The Dow Jones Industrial Average closed 0.44% in the green as The Travelers Companies, Inc. soared 2.54% as the top performer, followed by The Walt Disney Company climbing 2.10% Meanwhile, the S&P 500 lost 0.30% with Nielsen Holdings Plc losing about a quarter of its market value after weak quarterly earnings; the company tumbled over 25%. The Nasdaq 100 dropped 1.44% with Facebook leading the losses as it plunged 18.96%.

Breaking the News / JC