U.S. stock markets fell on Thursday, led by a historic drop in Facebook stock, ending a four-day winning streak for the market.
The wipeout of Meta Platforms, the owner of Facebook, wiped out more than $230 billion in market value, the biggest one-day loss in history for a US company.
Meta’s weak earnings outlook also dragged down shares of other social media companies, including Twitter and Snap.
Wall Street indices fell sharply on Thursday – the S&P 500 fell 111.94 points, or 2.4%, to 4,477.44, while the Dow Jones fell 518.17 points, or 1.5%, at 35,111.16.
US stock exchanges Thursday:
The S&P 500 fell 111.94 points, or 2.4%, to 4,477.44.
The Dow Jones Industrial Average fell 518.17 points, or 1.5%, to 35,111.16.
The Nasdaq fell 538.73 points, or 3.7%, to 13,878.82.
The Russell 2000 Small Business Index fell 38.48 points, or 1.9%, to 1,991.03
US stock exchanges of the week:
The S&P 500 is up 45.59 points, or 1%.
The Dow is up 385.69 points, or 1.1%.
The Nasdaq is up 108.24 points, or 0.8%.
The Russell 2000 is up 22.52 points, or 1.1%.
US scholarships for the year:
The S&P 500 is down 288.74 points, or 6.1%.
The Dow is down 1,227.14 points, or 3.4%.
The Nasdaq is down 1,766.15 points, or 11.3%.
The Russell 2000 is down 254.28 points, or 11.3%.
–With the contributions of the agency