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The S&P 500 slumped back below the 4500 level on Thursday, dropping over 2.0% on the day. Equity market sentiment took a battering after dour earnings guidance from tech giant Meta Platforms (Facebook). Focus has shifted to Amazon earnings after the closing bell and Friday’s US jobs report. Major US …

US equities mostly fell on Thursday, with losses in large-cap tech stocks leading the fall. The S&P 500 was last down about 0.5% and testing the 4700 level, while the Nasdaq 100 index was last down 1.4% and back nuder 15,700. Apple was down nearly 1.0%, Meta (Facebook) was down …

Facebook Inc. announced better-than-expected results during the third quarter of this year, but revenue and the number of active users failed to meet estimates. The results of the business of the company that owns the social networking site revealed that the net profit amounted to 9.19 billion dollars in the …

U.S. stocks rose as traders watch earnings reports from technology heavyweights including Facebook, while keeping in mind inflation-related concerns and rising Covid-19 risks. Energy and materials sectors are on the lead of the S&P 500 higher after the index whipsawed traders at the start of Monday’s U. S. session. PayPal …

Agustín Carstens, general manager for the Bank of International Settlements (BIS) warned of Big Tech’s increasing reach into financial servicesCarstens said that Big Tech needs monitoring as it broadens its scope of services into credit and beyond. He added that Facebook’s Diem, in particular, needs scrutiny.Carstens delivered his remarks as …

Stocks progressed on Tuesday as technology stocks recouped some losses, when a rotation away from growth names picked up steam as concerns over inflation lingered. The Nasdaq gained more than 1% after the index dropped over 2% a day earlier. Both the S&P 500 and Dow each also gained over …

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 …

Facebook Inc. services experienced widespread outages Monday morning, adding to the social network’s worst and most miserable day.Facebook FB shares dropped as much as 6% to an intraday low of USD 323, which would be their worst single day decline since a 6.3% fall logged on 30 October 2020. The …

Facebook, Instagram, WhatsApp and a handful of other apps suddenly crashed Monday afternoon, turning up error messages to its millions of users around the world. All of the apps that went down are owned by Facebook. The major outage comes as Facebook finds itself in hot water over its role …

The European Union has decided to impose a EUR 225 million fine on WhatsApp, the messaging application owned by Facebook, due to breaching data protection rules. The EU Data Protection Commission in Ireland decided to impose the fine and require that WhatsApp changes how it explains terms, conditions, and privacy …