Facebook Leads Nasdaq Lower As Whistleblower To Appear Before Congress; Markets Tank On Economic Jitters

deadline.com:

Facebook led a rout of tech stocks and broader market indexes Monday amid outages at its core services and news that the whistleblower behind a recent series of damning stories in the Wall Street Journal will testify before Congress tomorrow.Facebook shares were down by $324 or more than 5% as the Nasdaq dropped 340 points.

The DJIA shed about 400 points. Facebook’s mounting woes were compounded by economic jitters that hit tech stocks the hardest.

Twitter and Snap plunged by more than 6%, Roku by 5%. Spotify was off 4% and Apple, Amazon and YouTube parent Google dipped about 3%.

Netflix was dragged lower as well, losing 2.6%.The sharp downturn comes amid jitters over supply chains and ahead of a a week full of economic data on inflation