META is trading at $670.02 (-3.13%) as of 12:30 PM EST, declining alongside a broader retreat in the technology sector.
- The Nasdaq Composite fell 1.90% as investors engage in profit-taking amid concerns over AI spending returns and hawkish Fed expectations following Kevin Warsh's nomination.
- While no company-specific news was reported for META, softer ADP employment data has contributed to a general risk-off sentiment affecting high-growth equities.
- Market dynamics show a rotation toward value stocks as mega-cap technology names face increased valuation pressure.