Famos Stocks commentator Jim Cramer was on the news yesterday saying how Facebook’s trouble’s should not influence the other stocks in the elite tech quartet known on Wall Street as FAANG. (Facebook, Apple, Amazon, Netflix, and Google)

Jim should probably read his own blog to find out why this is happening. The website www.TheStreet.com, which was founded by Cramer himself posted the following headline.

The author draws some remarkable comparisons to the housing market’s contribution to the 2008 financial crisis and what we’re seeing now with big data. The revolutionary eye opener for me was this little factoid….

 In his apology yesterday, Mark Zuckerberg not only admitted guilt he acknowledged that more regulation is necessary. He practically pleaded for regulators to step in and oversee the use of personal data. 

If you’ll recall, the root cause of the collapse a decade ago was the market realization that all this debt that was being sold to investors as high yield and low risk was suddenly reevaluated.

The European Union is now in the process of implementing the all-new data protection plan known as GDPR, which prohibits companies from using their user’s data for any reason without express and transparent approval.

So what happens now to all of this “valuable” data going forward?

Today’s Highlights

Traditional Markets

Markets cheered as new Fed boss Jerome Powell pulled the trigger raising the interest rate in the United States by 0.25%. The excitement didn’t last long though.

It wasn’t necessarily anything that he said but somewhere in the middle of his press conference stocks started to turn sour. It was certainly an action-packed event with the major indexes going from new highs to new lows in a matter of moments.

On the other side of the world of course, the effects of the US interest rate are being felt in different ways. Australia, for example, woke up to this awkward headline.