Facebook Shares Drag On S&P 500

Credit: Wochit Business
Published on March 18, 2019 - Duration: 00:31s

Facebook Shares Drag On S&P 500

According to Reuters, Facebook shares are down over 3-percent after an analyst cut their stock's rating.

On the day, Facebook Inc.

Dropped 3.3-percent after Needham downgraded their stock from hold to buy.

Those losses dragged on the S&P's communication services index, which fell about 1-percent.

By the afternoon on March 18th, the S&P 500 was treading water, rising about 5-points due to gains from the financial and energy sectors.

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