Facebook shares drop to new low

Shares in Facebook have fallen to a new low, as investors react to the social network's first set of results since its flotation.

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Late Thursday, in its first report as a public company, Facebook said it lost $157m (£100m) from April to June.

Its shares plunged more than 16% in early trading before recovering slightly to end the day down almost 12% at $23.71.

Facebook shares were priced at $38 when it listed on the Nasdaq in May.

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bbc.co.uk/news/business-19018522