AFTER THE BELL: Twitter Inc. shares plunge, down day on TSX
It’s been a bad week for social media.
The day after Facebook shares dropped 19-percent, Twitter’s stock plunged almost 20-percent after the company reported a decline in its active users.
Twitter expects it to get even worse in Q3 & Q4 as the company cracks down on trolls, spam, and fake accounts.
Twitter’s struggles factored into a down day on the Nasdaq falling 114 points to 7,737 . The Dow Jones slipped 87 points to 25,443.
On Bay Street, after looking like it was headed for gains this morning the TSX is down 67 points to 16,388. The tech and energy sectors were two of the biggest losers of the day.
Crude oil is down $0.75 to $68.65 a barrel, while gold gained over $6.00 from yesterday’s low to $1,2221 an ounce.
The loonie remained relatively flat, at $0.7666 U.S.
The loonie managed to hold steady against the greenback, even with America’s economy growing at its fastest pace in nearly four years.