META is trading at $670.21 (-3.11%) as of 11:50 AM EST, tracking a sharp Nasdaq decline and broader tech sector sell-off.
- The downturn is fueled by disappointing ADP jobs data (22K added vs. 45-48K expected) and rising hawkish expectations for the Federal Reserve under potential leadership changes.
- The stock extends yesterday's -2.08% decline, which saw it close at $691.70, despite a lack of company-specific news or earnings events today.
- Broader market pressure remains high as the Nasdaq Composite drops 1.70% amid light trading volume and profit-taking in high-growth tech stocks.