Zynga's shares fall on its Nasdaq debut

Shares in Zynga, the online games company behind the Facebook favourite Farmville, fell 5 per cent on their first day of trading on Friday.

The Nasdaq flotation valued the company, whose fortunes are heavily tied to those of Facebook, at around $9bn. Also in the US, the Securities and Exchange Commission has alleged that six former top executives at Fannie Mae and Fannie Mac misled investors, bringing forward a civil case for securities fraud.