AM Report 20 Mar 18: Tech led sell off on US markets, Facebook off 6.8%

US sharemarkets fell sharply on Monday as the decline in social media giant Facebook's share price (-6.8%) weighed on the technology sector. Shares of Facebook slumped on reports that political consultancy Cambridge Analytica - which worked on US President Trump's election campaign in 2016 - gained unauthorised access to 50 million user's profiles without their consent. The Dow Jones index fell by 493 points at one stage, eventually closing down by 335 points or 1.4%. The S&P 500 index fell by 1.4%. And the Nasdaq fell by 137 points or 1.8%

 

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