Why Facebook Stock Fell 5% on Wednesday

Shares of Facebook (NASDAQ: FB) were hit hard on Wednesday, falling as much as 5.2%. As of 3:15 p.m. EDT, the stock was down 4.8%.

The tech stock's decline was likely primarily due to a bearish day in the overall stock market. But the pullback may also have been driven in part by representatives from Facebook, Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) (NYSE: TWTR), and Twitter testifying before the Senate Commerce Committee. 

Facebook CEO Mark Zuckerberg. Image source: Facebook.

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Source Fool.com