“Facebook’s parent company shed more than $230 billion in market value Thursday, a one-day loss that is the biggest ever for a U.S. company and increases pressure on a stock market long powered by technology shares.”
“Meta Platforms Inc. FB -26.39% (formerly known as Facebook Inc.) gave a disappointing financial forecast, helping the major indexes snap a four-session winning streak. The tech-heavy Nasdaq Composite index dropped 3.7%, its worst day since September 2020, while the S&P 500 fell 2.4%.”
It will be interesting to see where this goes, and if the Federal Reserve tries to rescue the market. The link:https://www.wsj.com/articles/disappointing-meta-paypal-earnings-send-shudders-through-stock-market-11643906563?mod=djemalertNEWS
THE HYPERSPACE RAMBLER 