US stocks gain but Facebook plunges


30/05/2012 05:17 AST  Business Times

US stocks rose more than one percent on Tuesday helped by hopes that China will launch a stimulus programme and signs Greece's elections might push through a euro-friendly government.

But Facebook shares headed in the opposite direction again, dropping nearly 10 percent to US$28.84, far below the US$38 IPO price of May 18.

At the close of trade, the Dow was up 125.86 points (1.01 percent) to 12,580.69.

The S&P 500 index gained 14.60 points (1.11 percent) to 1,332.42, while the Nasdaq added 33.46 points (1.18 percent) to 2,870.99.

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