Market Overview

Zuckerberg Demos Facebook Social Search

On Tuesday, Facebook (NASDAQ: FB) unveiled its new product, social search.

According to the company, social search was intended to allow users to search through information that had already been shared with them on the social network. Zuckerberg said it was intended to return an exact answer, not just a set of links like standard web search.

Shares of Facebook traded lower on the announcement, giving back earlier gains to trade into the red. Shares of Google (NASDAQ: GOOG) spiked higher as investors could breath another sign of relief: Facebook was not planning to compete, at least directly, with the search giant.

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