Facebook share fall triggers circuit breaker

Facebook share fall triggers circuit breaker

Facebook's share price continued to tumble yesterday, dropping so sharply that it triggered Nasdaq's short sale circuit breaker.

Nasdaq alerted traders at 14.16 EST that the circuit breaker had been triggered, according to the Wall Street Journal. A similar sharp drop saw the same thing happen on the stock's debut on 18 May.

Circuit breaker - introduced by the SEC following the 2010 flash crash - pause trading in a stock if its price falls more than 10% from the previous day's closing.

At the close of trading, Facebook's shares were down 9.62%, or $3.07, at $28.84. The stock is down about 24% on its IPO price of $38.

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