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Talks begin in Geneva between Iranian Foreign Minister Abbas Araghchi and the E3.
Al Mayadeen correspondent: The E3 will present Araghchi with a four-point European plan that includes a complete end to uranium enrichment in Iran.
Iranian Foreign Minister Abbas Araghchi arrives at the venue of the negotiations that will soon begin with the E3.
Araghchi: The Israeli attacks on nuclear facilities in Iran are serious war crimes.
Araghchi: We are determined to defend our territorial integrity and sovereignty with full force.
Araghchi: We were supposed to meet with the Americans on June 15 to draft a highly promising agreement regarding our nuclear program.
Araghchi: The unjustified Israeli attack on Iran is a violation of International Humanitarian Law Article 33.
Araghchi: Iran is facing aggression that cannot be justified in any way, and justifying this aggression is an act of complicity.
Araghchi: "Israel" bombed nuclear facilities that are under the supervision of the International Atomic Energy Agency (IAEA).
Araghchi: "Israel" carried out aggression against Iran, violating Article 2 of the Human Rights Council.

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.

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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

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