Facebook tumble pulls markets down
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Trade was heavy in tech shares as Facebook lost nearly 11 per cent at one point on a Barron's report saying the company's shares were only worth US$15, adding that even at that point they were generously valued. -- FILE PHOTO: AP
NEW YORK (AFP) - A sharp fall by Facebook and weakness in Apple's shares despite the strong iPhone 5 launch helped pull United States (US) markets lower on Monday.
But Google's push higher to a new record just above US$750 (S$918.31) a share limited the damage.
The Nasdaq Composite closed down 19.18 points (0.60 per cent) for the day to 3,160.78.
The S&P 500-stock index closed 3.26 points lower (0.22 per cent) at 1,456.89.
