The American stock market took a hit today as the Dow Jones plunged over 134.97 points due to a drop in stock prices of 3M Company. 3M’s value fell by 13% after lower than expected earnings report. This is 3M’s most significant drop in stock price its biggest broad market crash in 1987.
On the other hand, Nasdaq and the S&P 500 surged by 2% and 0.2 respectively mostly thanks to gains made on the Technology sector. Amazon reports an increase in shares of 1.7% after closing hours. Facebook, despite all the scandals FTC probe, saw a gain of 5.8% in its valuation. Microsoft Corp also gained a 3.3% increase in stock prices.