March 21st – Market Summary
as of market close 3/20/18
Facebook stock fell a further 5.8 per cent in early New York trade on Tuesday after dropping 6.8 percent on Monday.
The latest sell-off came after Bloomberg reported that the US Federal Trade Commission is probing Facebook over whether it violated terms of a consent decree over its use of personal data.
Facebook came under fire when Cambridge Analytica, the data-mining firm that helped Trump win the presidency, was discovered to have harvested user data collected via an app on Facebook that was supposed to be for academic research.
European Commission, UK’s Information Commissioner’s Office and Massachusetts and Connecticut attorney-generals have all begun investigations.
The chairman of Vitol, the world’s largest independent oil trader, has warned that Opec will need to extend its production cuts with Russia into 2019, cautioning that he sees prices slipping back by the end of this year.
US Stocks turn volatile after fed rate rise
US central bank raises rates by 25bp, signals additional rise in 2019
Dollar and longer-dated Treasury yields extend losses
Stocks swing from gains to losses and back, gold up sharply Brent oil at six-week high above $69 a barre