Technology ETFs Shrug Off Latest Facebook Bug
This article was originally published on ETFTrends.com.
With the official start of summer still two weeks away, technology ETFs are already facing the heat and bugs—in particular, a Facebook bug that inadvertently made private posts public, affecting about 14 million users.
The bug, which changed the Facebook user’s automatic default post setting from private to public, was active between May 18 to May 27. The company has already taken the necessary steps to exterminate the bug by changing affected posts back to private and notifying the users.
CNBC Video: A Facebook bug made private posts of 14 million users public
"Starting today we are letting everyone affected know and asking them to review any posts they made during that time," said Erin Egan, Chief Privacy Officer at Facebook said on Thursday. "We'd like to apologize for this mistake.”
Facebook shares (FB) shrugged off the bug, trading up 0.49% on Friday compared to the previous day’s close. Likewise, technology ETFs also shrugged off the Facebook glitch: the SPDR S&P Internet ETF (XWEB) —closed up 0.72% from the previous day, PowerShares Nasdaq Internet Portfolio (PNQI) —up 0.58%, First Trust Dow Jones Internet Index Fund (FDN) —up 0.36%, and iShares Dow Jones US Technology ETF (IYW) —up 0.02%.
Overall, the technology sector was up on Friday, as evidenced by the NASDAQ 100, which closed up 0.14%.
For more news and current affairs on technology ETFs, visit our technology category.
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