New York (CNN Business) Stocks fell sharply Monday, dragged down by reports of trouble at Apple and Facebook.

The Dow closed down 396 points and the Nasdaq tumbled 3%.

Facebook stock fell nearly 6% as the company continues to deal with the fallout from a New York Times article that detailed Facebook's reaction to political scrutiny and its Cambridge Analytica scandal. CEO Mark Zuckerberg has reportedly adopted a more aggressive, "war"-like style, according to the Wall Street Journal

Alphabet was also down 4%. It is now down 20% from its peak in July, placing it in bear market territory.

Early in the day, stocks fell on news that Apple's newest line of phones may not be selling as well as Apple or its investors had hoped.

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