Meta says in earnings report Facebook shrunk for the first time in the platform’s history

Meta, the parent company behind Facebook, saw an over 24 percent drop in shares Thursday after releasing a weak earnings report, in what experts say could be the worst single-day loss for a US firm.

The plummet, which took out more than $200 billion of the company’s market value, also rattled other technology stocks.

“The tech selloff spilled over to broader equity markets this morning and with the Fed preparing to raise interest rates, we could see more volatility going forward,” Societe Generale strategist Kenneth Broux told Reuters.... Read More: i24