US stocks trade mixed, Nasdaq hammered down by a slump in Facebook shares

Major US equity indices witnessed a mixed opening on Thursday, with a sharp fall in technology stocks overshadowing positive trade-related developments. 

The US and the EU agreed to work toward eliminating tariffs and negotiate on trade, which triggered a fresh wave of risk-on trade across global financial markets. The optimism, however, was largely offset by disappointing quarterly results the social-media giant - Facebook.

A slump in Facebook took along the high-growth FAANG group of stocks and weighed heavily on tech-heavy Nasdaq Composite Index, fueling some cautiousness as investors continue to monitor the second-quarter earnings season. 

Meanwhile, European markets cheered Wednesday's upbeat meeting between the US President Donald Trump and European Commission President Jean-Claude Juncker, and the spillover effect provided a goodish lift to the blue-chip Dow Jones Industrial Average (DJIA). 

During the opening hour of trade, the DJIA rallied nearly 150-points to 25,560. Conversely, the broader S&P 500 Index traded with a loss of around 8-points to 2,838 and Nasdaq tumbled nearly 100-points to 7,837.