Markets were under pressure from the start as negative tech stock headlines set a bearish tone throughout the day. Stock futures traded under pressure prior to the New York open, as shares in Facebook (FB) had their worst daily performance in nearly four years after the social-media company was negatively criticized by analysts for the ways it manages user data.
This bearish activity set the tone in pre-market action, and this continued throughout the day. The Dow Jones closed the session lower by 1.35%. The S&P 500 was lower by 1.42%, and the NASDAQ was lower 1.84%.
The data calendar for Monday was relatively light – and this will remain the case for the early part of this week.