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Market Update

U.S: Markit Services PMI edges lower to 54.9

The business activity in the US service sector continued to expand in September albeit at a softer pace than it did in August with IHS Markit’s Services PMI retreating to 54.9 (final) from 55.1 in August. Nevertheless, this reading came in higher than the advanced estimate and the market expectation …

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Facebook suffers worst selloff of 2021

The social media giant’s stock on Monday retreated by nearly 5% in its worst daily loss since November. The decline came after Facebook’s worst outage since 2008. Facebook retreated to $315 level, however it closed Friday at $326.23 a share.The company came under additional pressure after whistleblower Frances Haugen revealed …

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