Stocks Slump as Facebook Hits Tech; Bonds Recover: Markets Wrap
- Gold gains for the first time in four days, crude oil drops
- Dow tumble tops 300 points; Nasdaq falls most in 6 weeks
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Stocks declined globally on Monday as a technology selloff sent the Nasdaq indexes to the steepest losses in six weeks. Government bonds pared losses, while the pound jumped on a Brexit breakthrough.
U.S. stocks slumped as tech companies were roiled by reports of a Facebook Inc. data breach and Apple Inc. efforts to develop its own screens. That sapped Asian equities, while tech also led a retreat for the Stoxx Europe 600 Index. Facebook fell the most in almost four years. The tech rout added to pressure that had mounted over the weekend in Washington, as speculation grew that President Donald Trump could be preparing to fire Robert Mueller.