Wall St slides as Facebook data issue pounds tech sector; Nasdaq down 1.6%

US stocks slid about 1 percent on Monday, with volatility spiking, as Facebook's shares sank after reports that its user data was misused led to concerns over broader privacy violations and sparked a selloff in technology stocks.
Facebook shares declined 6 per cent and were on track for their worst day in more than three years on reports that a political consultancy that worked on President Donald Trump's campaign gained inappropriate access to data on more than 50 million users.

That sparked concerns over the collection and use of data, especially related to individuals, at other tech companies and sent the Nasdaq Composite sliding 1.5 percent and the S&P technology index down 1.8 percent in their worst day since a sell-off in early February.

Republican Senator Marco Rubio said he believed some internet companies have grown too fast to digest their responsibilities and obligations.