Stocks are plunging again today after Snap's bleak forecast sparks selloff

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Stock is set for its worst single\u002Dday drop

“Snap is a proxy for online advertising and when you see weakness there then you automatically think Facebook, Pinterest and Google,” Dennis Dick, a trader at Bright Trading LLC in Las Vegas, said.

Nine of the 11 major S&P sectors declined in morning trade after rising broadly in the previous session. The communication services sector slid 5.2 per cent.

 

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