Tech stocks drop as Congress scrutinizes social media
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September 6, 2018
NEW YORK (AP) — Technology companies dropped Wednesday as Facebook and Twitter executives testified before Congress. Consumer-focused companies like Amazon and Netflix also slumped.
Facebook Chief Operating Officer Sheryl Sandberg and Twitter CEO Jack Dorsey told a Senate panel they are working to stop manipulation of their services by foreign countries. Legislators criticized Alphabet, Google's parent company, for refusing to send its CEO to the hearing.
In a separate hearing, House Republicans accused Twitter of bias against conservatives, a charge not backed up by evidence.
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