Twitter and Facebook Shares Fell

The United States stock exchange, wall street varies with the Nasdaq stock index down more than one percent. The Nasdaq stock index was pressured by the technology sector, namely Facebook and Twitter.

At the close of stock trading Wednesday (Thursday morning WIB), the Dow Jones stock index rose 22.98 points,  0.09 percent to 25,975.46. The S & P 500 stock index edged down 8.04 points, 0.28 percent to 2,888.68. The Nasdaq stock index slipped 96.07 points, or 1.19 percent, to 7,995.17.

The US Department of Justice said it would meet with lawyers to discuss concerns that social media platforms deliberately “strangle the idea exchange freely”. But Facebook and Twitter are not specifically called. That sentiment added pressure on technology stocks.

Twitter shares fell 6.1 percent and Facebook shares fell 2.3 percent contributed greatly to the decline in the Nasdaq and S & P 500. However, the Dow Jones index slightly strengthened.

Other technology stocks include Alphabet Inc, Snap Inc, and Microsoft Corp shares. Investors also sold shares of Amazon and Netflix Inc. so as to put pressure on the consumption sector.

The technology and consumption stock sector experienced a large decline in the S & P 500 stock index. The S & P 500 stock index of the technology sector fell 1.5 percent and consumption decreased 1.1 percent on wall street.

In addition, the energy share sector also pressured the S & P 500. Halliburton Co shares fell nearly six percent after the company warned that depressed earnings in the third quarter of 2018 were driven by moderate activity in Permian Basin.

In addition, Schlumberger shares fell 1.5 percent and GE lost 2.2 percent.

Another sentiment affected the stock market, the US trade deficit hit a five-month high in July. This, according to economists, can increase the US government aggressively to pursue the “America First” approach to trade.

The data comes amid fears the US proposal to impose tariffs on Chinese goods imports of more than USD 200 billion could take effect immediately after the public comment period ends on Thursday.

Even when the US-Canada re-negotiated the NAFTA agreement or the North American free trade agreement. In addition, shares of Inc. dropped 10.6 percent for two consecutive days.