Watch Facebook Experiences Biggest Loss In Stock Market History News Video

31 sec read

“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.”

Read more at NY Post


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