Stocks are continuing slump that started during the Asian session. Facebook is the reason for the Nasdaq slide, which dragged the whole market into negative territory.
Since the beginning of the Asian session DJIA erased 500 points from it's value, S&P decreasen 56 poing and Nasdaq tanked 200 points.
After the report of Facebook about security breach, the investors panic grew stronger. Sell-off conveyed over the whole tech index, and after that over the whole market.
Another reason is the news that the digital giants like Alphabet and Twitter will have to pay around 3% tax on their gross revenue for the EU based clone companies.
The worries around the trade war of Trump continues to weight over the global economy especially after US Treasury said that US plans to pull back from Beijing negotiations.
Trader Bozhidar Arabadzhiev
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