Shares of large tech companies, including Facebook, Inc. Common Stock FB, are trading lower amid a rise in bond yields, which has weighed on growth stock valuations.
The 10-year Treasury yield hit an intraday high of 1.567% Tuesday morning before dipping to around the 1.544% level. The spike in the 10-year note this week comes after the Federal Reserve last week spoke on winding down its ongoing asset purchasing program.
Facebook is the world's largest online social network. Users engage with each other in different ways, exchanging messages and sharing news events, photos, and videos.
Facebook is trading lower by 3% at $343.04. Facebook has a 52-week high of $384.33 and a 52-week low of $244.61.
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