Twitter Under Fire, Facebook Facing New Challenges

Social media companies continued to be hit by calls for regulation or punitive action. Today Twitter was hit hard by the state of Israel seeking action against the company, citing potential incitement to violence by users of the platform. Twitter was down over 11% at various points during the session due to this news. Facebook also continued under pressure due to ongoing actions taken against the company by US and foreign legislators. The markets, however, overall were very neutral, trading on very low volume awaiting Wednesday’s FOMC conference. Here’s what to expect.