U.S. Tech Shares Tumble; Emerging Currencies Slide: Markets Wrap
- Twitter, Facebook led drop in Nasdaq amid Congress hearings
- Oil drops the most in three weeks as investors eschew risk
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Most U.S. stocks fell, with FANG shares tumbling as executives of the tech heavyweights faced scrutiny on Capitol Hill. The selloff in emerging market assets deepened, adding to the risk-off tone on global financial markets.
Twitter, Facebook and Alphabet helped send the Nasdaq Composite Index down 1.2 percent, the most in three weeks, during Congressional hearing on social media and foreign influences on elections. The Dow Jones Industrial Average finished in the green. The Stoxx Europe 600 Index sunk to its lowest since April. An emerging-market currency gauge fell to a fresh one-year low, led for a second day by South Africa’s rand, before paring losses.