Why Facebook Got Swept Up in the Market Sell-Off Today
Shares of Facebook (NASDAQ: FB) were getting pummeled along with the broader market today as the social media giant closed down 5.2%. By comparison, the S&P 500 index lost 5.9%.
Facebook's slide came as investors fled stocks after negative commentary from Federal Reserve Chairman Jerome Powell yesterday, and on fears that a second wave of infections could hamper the economic recovery as a number of states, including California, Texas, Florida, and Arizona, have seen new daily COVID-19 cases increase over the last week.
Image source: Facebook.
Source Fool.com
