US stocks rebound, Facebook continues to tumble


Posted on: March 20th, 2018 by ABC News No Comments

iStock/Thinkstock(NEW YORK) — U.S. stocks rebounded after Monday’s tech sell-off, but Facebook continued to tumble amid a data scandal.

The Dow Jones Industrial Average climbed 116.36 (+0.47 percent) to finish the session at 24,727.27.

The Nasdaq gained 20.06 (+0.27 percent) to close at 7,364.30, while the S&P 500 finished trading at 2,716.94, up 4.02 (+0.15 percent) for the day.

Crude oil prices jumped more than 2 percent to $63 per barrel.

Winners and Losers:  Shares of Facebook fell 2.56 percent as the social media company battles accusations that Cambridge Analytica, a private data firm, obtained information on 50 million users without permission.

The Federal Trade Commission is reportedly looking into Facebook’s use of personal data.

Amazon.com climbed 2.69 percent, topping Google-parent Alphabet Inc. in market value, and becoming the second most valuable company in the U.S.

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Carlson\'s Drive In Michigan City