Global stocks struggle to hold four-month peak as Facebook plunges
Updated : July 27, 2018 06:38 AM IST
Facebook Inc, the fifth-largest global stock by market capitalization, collapsed 18.89 percent, set for the biggest one-day wipeout in US stock market history, after the social media company's earnings report showed slowing usage in the biggest advertising markets.
The heat has eased somewhat over US and European trade issues, allowing markets to return their attention to central banks and their plans to withdraw stimulus.
Concerns about Facebook's major earnings miss in an otherwise largely positive US corporate results season did little to support bonds, which lost value as yields resumed their climb higher.
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