This Time, Twitter Has the Lousy Stock Day

Shares fall 20% as tech stocks in general sink; Dow falls 76
By Newser Editors and Wire Services
Posted Jul 27, 2018 3:18 PM CDT
A sign for a Wall Street subway station is shown in New York.   (AP Photo/Richard Drew, File)

(Newser) – A slide in technology companies weighed on US stocks, adding to the market's losses from a day earlier. This time, however, it wasn't Facebook getting all the bad news. Twitter plunged 20.5% Friday after the social media network said its monthly users declined in the second quarter. The loss is the company's second-biggest since going public in 2013. The decline in technology stocks in general outweighed gains in banks, phone companies, and makers of consumer products. The Dow Jones Industrial Average lost 76 points, or 0.3%, to 25,451, per the AP. The Nasdaq composite fell 114 points, or 1.5%, to 7,737, and the S&P 500 index fell 18 points, or 0.7%, to 2,818.

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