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Stocks - Social Media Stocks Still Falling Midday

Published 09/06/2018, 12:03 PM
© Reuters. Social media stocks continued to struggle.

Investing.com - Social media and semiconductor equipment stocks were the big losers in midday trading.

The social media sector saw further selling after being hit hard when executives from Twitter (NYSE:TWTR) and Facebook (NASDAQ:FB) testified on Capitol Hill yesterday.

The S&P Information Technology index fell about 1% at 11:55 AM ET (15:55 GMT).

Twitter lost about 4.6%, while Facebook fell about 2.6% and Google parent Alphabet (NASDAQ:GOOGL), which declined to send an executive to talk to Congress, sank about 2%.

The semiconductor equipment stocks also struggled.

KLA-Tencor (NASDAQ:KLAC) was down about 8.5%, the biggest loser in the S&P tech sector index.

Micron Technology (NASDAQ:MU) lost about 8%, while Lam Research (NASDAQ:LRCX) shed about 6%.

Among gainers, Jd.Com (NASDAQ:JD) jumped about 4%, clawing back some of the losses after its CEO was arrested on suspicion of rape.

Latest comments

I believe it could be the same person for doge crypto which is why doge was down for so many years all the sudden they jump up and now the currency is back to LOW. numbers have been staying in the same field. but as of mid September it's suppose to be back at 0.00000 bc the guy hacking all the money is suppose to turn himself in. The stock news should stick to a story and stop telling different news for the same crypto
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