Facebook Inc. (NasdaqGS:FB)’s stock suffered a 10% decline mid-last week, and things aren’t looking too positive. For the first time ever, the number of U.S. and Canadian Facebook users has plummeted, dropping from 185 million daily active users to 184 million. It’s a small change, but one that could incite some significant variations in the near future.
On this week’s installment of Varney & Co., Shah Gilani discusses how investors should react to the negative news surrounding the most-used social media platform in the business. He and Stuart Varney also discuss what Jerome Powell’s first press conference could mean for interest rates, what the press will ask him, and how the market will respond to it all.