Facebook Leads Big Tech Stock Jump on Gridlock Election Bet
- Facebook shares post biggest intraday gain since late August
- Tech industry faced regulatory threats before Election Day
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Big technology stocks surged on Wednesday as investors bet that likely Republican control of the Senate could create gridlock in Congress, limiting new legislation that may have weighed on the industry.
Facebook Inc. jumped more than 8%, the biggest intraday gain since late August. Google parent Alphabet Inc. climbed over 6%, while Amazon.com Inc. rose 5.8% and Apple Inc. added 4%.