Dow Slides Nearly 500 on Trade Fears, Tech Troubles

U.S. stocks fell sharply Thursday on worries about a potential trade war and as tech shares slid, CNBC reported.The Dow was down nearly 500 points in late morning trading. Facebook shares continued to decline as they have all week in the wake of reports that Cambridge Analytica gathered data from 50 million Facebook profiles without the permission of its users. Police: Austin Suspect’s Recording Considered a ‘Confession’ The news raised concern that U.S. lawmakers could more closely regulate major tech companies, CNBC reported.”They’re not going to write the regulation just for Facebook, said Shawn Cruz, manager of trader strategy at TD Ameritrade, noting regulators are going to target the entire sector. “That could turn into a headwind for these stocks.” Cops Release Video of Fatal Crash Involving Self-Driving Car Later Thursday, the Trump administration was set to announce tariffs designed to punish China for intellectual property theft.Photo Credit: Bryan R. Smith/AFP/Getty Images
Source: NBC San Diego