“Facebook has made stock market history on Thursday — for all the wrong reasons.
“The social media titan lost nearly $119.4 billion in value in one day as investors, spooked by a “startling” slowdown in the company’s growth, ran for the exits.
“Facebook shares tumbled 19 percent, to $176.26.
“Investors in pension funds, hedge funds and mutual funds will surely feel some pain — but none greater than founder and Chief Executive Mark Zuckerberg, whose net worth fell by roughly $16 billion.
“That was enough to bump the tech mogul from the No.3 richest person in the world down to No. 6, at $67 billion.
“Facebook’s drop was the largest one-day loss in value of any publicly traded company in history, beating out the roughly $91 billion that Intel lost in September 2000.
“Adjusted for inflation, however, Intel’s drop still takes the top spot, at almost $136 billion.”
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