Facebook shares crash 13% on second day of trading

Shares in newly-floated social media giant Facebook dived over 13% today as investors sold off stock following what had been one of the most anticipated IPOs in recent years.

Shares in the company tumbled 13.4%, losing $5.07 to $33.19 in early trading, as investors questioned whether the company's growth prospects could justify the giant market capitalisation set on Friday. The fall left the stock trading well below last week's listing price of $38, a figure which had been ramped up to the upper tier of the proposed range in the days prior to the listing. The Nasdaq-listed stock tumbled as technology peers - including Google - made marginal gains on the day, with the wider index up 0.3%. Nasdaq boss Robert Greifeld had early said he was "embarrassed" by a ...