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Dow falls 99 points; Facebook down nearly 7 percent

Associated Press

NEW YORK: The S&P 500 fell 13.06 points in Wednesday trading to 1,852.56. The index is up 0.2 percent for the year, after rising almost 30 percent in 2013.

The Dow Jones industrial average lost 98.89 points to 16,268.99. The technology-heavy Nasdaq composite fell more than the other indexes, giving up 60.69 points, or 1.4 percent, to 4,173.58.

Facebook was one of the biggest losers.

The social media network slumped $4.51, or 6.9 percent, to $60.38 after announcing a $2 billion acquisition of virtual reality company Oculus late Monday. It was Facebook’s second big acquisition this year.

Last month the company announced that it would pay $19 billion for messaging startup WhatsApp.




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