AFTER THE BELL: Facebook Spirals Down, TSX Has Another Good Day
Facebook’s plunging shares had a ripple effect on the Nasdaq today.
The social media giant lost nearly $120-billion in market value as its shares dropped 19.4-percent in trading.
This set the table for the largest single-day plunge in U.S. stock market history after Facebook reported a loss in revenue and active users.
The Nasdaq dropped 80 points to 7,852.
Meanwhile, the TSX had a second consecutive winning day, up 44 points to 16,465, with 6 of the index’s 11 major sectors showing positive gains.
The price of gold dropped $9.50 to $1,222 an ounce, marking its fourth lowest close of the year.
Oil rose slightly, $0.28 to $69.58 a barrel.
The Dow finished the day on a positive note, up a 113 points.
The loonie ended Thursday off to $0.7649 U.S.