US STOCKS-Wall St lower in volatile trading; tech, materials down

miércoles 26 de marzo de 2014 14:39 GYT

* Facebook buys Oculus for $2 billion; shares fall

* King Digital plunges in trading debut

* Dow off 0.36 pct; S&P off 0.38 pct; Nasdaq off 0.96 pct (Updates to afternoon trade)

By Angela Moon

NEW YORK, March 26 (Reuters) - U.S. stocks edged lower in the afternoon on Wednesday, led by losses in the materials and technology sectors.

Trading was choppy with U.S. stocks mostly positive in the morning after U.S. economic data pointed to improving conditions. But they reversed course in the afternoon as technology stocks turned sharply lower.

Facebook Inc shares were off more than 5 percent at $61.71, a day after the social media giant announced it will acquire two-year-old Oculus VR Inc, a maker of virtual-reality glasses for gaming, for $2 billion.

A sharp decline in the stock of King Digital Entertainment Plc, maker of the wildly popular "Candy Crush Saga" game, also weighed on investor sentiment.

The stock fell nearly 20 percent to $19.64 in its trading debut on Wednesday after the company's initial public offering valued it at about $6 billion. King was the most actively traded stock on the New York Stock Exchange.   Continuación...