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US: Stocks open lower, Facebook slumps 5%

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Facebook shares tumbled 5 per cent in opening trading Monday following reports of a large data breach as US stocks fell ahead of a Federal Reserve policy decision later this week.

[NEW YORK] Facebook shares tumbled 5 per cent in opening trading Monday following reports of a large data breach as US stocks fell ahead of a Federal Reserve policy decision later this week.

Of the major indices, Facebook weighed most heavily on the tech-rich Nasdaq Composite Index, which was down 0.9 per cent to 7,414.41 about three minutes into trading.

The Dow Jones Industrial Average dropped 0.5 per cent to 24,824.59, while the broad-based S&P 500 dropped 0.5 per cent to 2,737.35.

AFP

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