Stocks tumble amid Facebook's record $220 billion rout
CBSN
The stock market opened sharply lower after Facebook-parent Meta on Wednesday reported disappointing quarterly results and said it lost users for the first time in its history. The social media giant's value plunged by $220 billion — the biggest one-day loss for a publicly traded company in stock market history.
The Dow Jones Industrial Average slipped 132 points, or 0.4%, to 35,496 in early trading, while the broad-based S&P 500 lost 1.5%. The tech-heavy Nasdaq shed 2.3%.
Meta shares plunged $79.58, or 25%, to $243.42 at the open of trading on Thursday.
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