By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch) -- Technology and social-media
stocks sank on Thursday, joining a broad market retreat as the
government shutdown entered its third day.
The Nasdaq Composite Index (RIXF) shed 1.1% to close at
3,774.34, as the Dow Jones Industrial Average (DJI) lost 0.9% to
14,996.48.
Major technology issues were in the red, led by Hewlett-Packard
Corp. (HPQ) , Facebook Inc. (FB) and Yahoo Inc.(YHOO).
Macquarie raised its price target for Facebook to $62 from $49
pointing to the company's momentum in the mobile ad market.
After rising early in the session, Groupon Inc. (GRPN) ended
down 4% at $11.30. The online daily deals site announced several
executive hires, including Robbie Schwietzer, who had been
Amazon.com's vice president for its Prime operations and who was
named senior vice president of operations.
Shares of Angie's List (ANGI) plunged 17.5% to $17.31 as
investors reacted to news that the company's chief technology
officer had left the firm and reports of subscription price cuts in
some markets.
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