Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al Mayadeen's EU delegate: Belgium categorically refused to touch Russian assets in its banks for fear of a Russian judicial backlash
Al Mayadeen's EU delegate: The European Union has failed to reach an agreement on the use of Russian assets frozen in Belgium
Trump: Will be seeing land action in Venezuela soon
Trump: first question to Xi will be fentanyl
Trump on reports of B1 bombers near Venezuela: Reports are not accurate
Al Mayadeen's correspondent: The death toll from the airstrike that targeted the town of Arabsalim in South Lebanon has risen to two, in addition to four injuries
Al Mayadeen's correspondent in South Lebanon: An Israeli airstrike targeted the town of Arabsalim
Putin on new sanctions against Russia: Russia's energy sector remains confident, though some losses are expected
Putin calls talk of supplying Tomahawk missiles to Kyiv an attempt at escalation
Putin says he discussed with Trump the impact of the situation with Russian oil supplies on global prices, including in the United States

Stocks fall as Facebook reports disappointing earnings

  • By Al Mayadeen Net
  • Source: Agencies
  • 3 Feb 2022 21:33
2 Min Read

Stocks fell on Wall Street as Metaverse, Facebook parent company, plunged about 25%, erasing more than $220 billion in market value, the largest drop in history.

  • x
  • Stocks are opening lower on Wall Street, Thursday, February 3 (Photo: AP Photo/John Minchillo)
    Stocks are opening lower on Wall Street, Thursday, February 3 (AP)

Stocks on Wall Street tumbled Thursday, with Meta Platforms losing some $200 billion in market value after its shares plunged more than 20% due to investor dismay over Facebook's earnings.

Trading in Facebook parent slid 24% per share after the company fell short of profit expectations. 

Meta’s share price drop occurred in Wednesday’s after-hours trade, right after it reported its fourth-quarter earnings following the close of regular market trading. Meta’s market capitalization stood $681.86 billion at Wednesday’s close.

Related News

Papua New Guinea mulls social media age checks; stirs censorship fears

Facebook far-right groups pushing radicalization in UK: The Guardian

If its price drop is not reversed or alleviated, Facebook’s value could plunge by $210 billion.

Meta also pulled down Wall Street with all three major US equity indices, the Nasdaq Composite, the Dow Jones Industrial Average, and the S&P 500, opening in the red and deepening losses from there.

Nasdaq took the worst hit among the three, falling 2%, since it reflected Facebook losses, the platform being one of its main components.

In the last two weeks, Nasdaq had just steadied, four weeks after non-stop losses that wiped out more than 10% in a broader market correction triggered by the Federal Reserve's worry about impending rate hikes.

The US central bank slashed lending rates to almost zero after the outbreak of the coronavirus crisis, but it says it now has to raise them to control inflation which ramps at 40-year highs.

  • Facebook
  • Nasdaq
  • Wall Street
  • Metaverse

Most Read

From previous scenes of the Qassam Brigades targeting an Israeli D9 bulldozer with a Yassin 105 shell, east of Deir al-Balah. (Military Media of the Qassam Brigades)

US knew fatal Rafah blast cause was not Hamas op., says journalist

  • Politics
  • 20 Oct 2025
Abu Hamza, the spokesperson for the Al-Quds Brigades, during a speech televised on October 22, 2025 (Al-Quds Brigades Military Media)

Al-Quds Brigades' Abu Hamza mourns leaders, vows continued resistance

  • Politics
  • 22 Oct 2025
A woman with her purchased groceries walks out from an underground market, in Beijing, Wednesday, August 6, 2025. (AP Photo/Andy Wong)

Global brands in China face pressure from rising local rivals

  • Economy
  • 17 Oct 2025
US missionary kidnapped in Niger capital, suspected taken toward Mali

US missionary kidnapped in Niger capital, suspected taken toward Mali

  • Africa
  • 23 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Palestinians walk through the destruction caused by the Israeli air and ground offensive in Gaza City, Thursday, October 23, 2025. (AP Photo/Abdel Kareem Hana)
Politics

Unexploded ordnances in Gaza may take 30 yrs to clear, aid group says

Police stand guard before a press conference on the extradition of “Tren de Aragua” gang members from the United States, at the a high-security prison where they are being held in Santiago, Chile, Wednesday, October 1, 2025. (AP Photo/Esteban Félix)
Politics

US immigration policies shaped by false 'Venezuela gang' threats

Demonstrators march at a protest opposing "Operation Midway Blitz" and the presence of ICE, Tuesday, Sept. 9, 2025, in Chicago (AP)
Politics

HRW slams federal agents use of excessive force in Illinois protests

Lebanese President Joseph Aoun meets with the Lebanese Prime Minister Nawwaf Salam ahead of a Cabinet meeting in the Presidential Palace, Baabda, Lebanon, October 23, 2025 (X/ @LBPresidency)
Politics

Lebanon OKs sea demarcation with Cyprus, restarts Block 8 exploration

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS