The tech stocks sell-off was one of the reasons why stocks fell on Wall Street on Monday.. The Dow Jones Industrial Average fell 0.3%, the expanded S&P 500 index fell 0.7%, while the Nasdaq index fell 1.3%.
Facebook also slipped 3.7 percent after suspending Trump accounts. Investors sold shares of technology companies that were the winners in the pandemic economy and shifted their portfolios towards greater participation than companies representing the recovering economy.
Other areas of the market have also lost momentum, but not as much as social media and big tech stocks.