Meta fined $1.3 billion for improper user data transfer

Meta Platforms (META) was fined $1.3 billion for violating European Union data protection regulations, specifically for transferring Facebook users’ data to the US, thereby exposing them to US intelligence agencies. While the tech giant stated it would appeal the decision, its NASDAQ share price was unfazed as it climbed $2.68 to $248.32.

Meanwhile, major indices closed mixed on Monday, with investors awaiting a debt ceiling deal. The Nasdaq 100 advanced 46 points to 13,849, and the S&P 500 edged up less than one point to 4,192. The Dow Jones Industrial Average plunged 140 points to 33,286.

EUR/USD increased 5 pips to 1.0813, and AUD/USD closed 6 pips higher at 0.6653. GBP/USD slipped 2 pips to 1.2437. USD/CAD remained at 1.3505 as the market closed, and USD/JPY rose 61 pips to 138.60.

Spot gold declined $6 to $1,971.84 an ounce, and WTI oil futures added $0.36 to $72.05 a barrel. Bitcoin and Ethereum just rose to $27,026.0 and $1,816.13 respectively.