Stocks tumble even as Twitter IPO soars

Stocks in New York took a beating last Thursday despite a bullish start for Twitter's highly anticipated first day training.

Shares of the social networking company jumped 73% , rising $18.90 at close at $44.90.

The micro-blogging service , trading under the TWTR symbol, priced its shares at $26 each on Wednesday. The stock's first trade , which came a little before 11 in the morning . ET Thursday , was at $45.10 and shares rose as high as $50.09.

Despite the twitter hype and sharp climb, the Dow Jones industrial average index fell 152.90 points or 1% to 15,593.98. The Standard & Poor's 500 index dropped 23.34 points, or 1.3% to 1,747.15 and the Nasdaq composite index tumbled 74.61 points or 1.9% to 3,857.33.

Source: usatoday

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