NEW YORK, May 21 (Reuters) - U.S. stocks rebounded on Monday after their worst weekly decline of the year with signs that investors were quickly unloading Facebook shares following its broken IPO and redeploying capital elsewhere in the technology sector.
Facebook Inc's shares fell sharply below their $38 issue price as underwriters' support of the initial public offering faded after its Friday debut. The stock dropped more than $5, or 13.7 percent, to hit a session low of $33.00 in early trading. By early afternoon, the stock had regained a little of that loss, but was still down 9 percent at $34.80 .... http://uk.reuters.com
