FACEBOOK WITH EPIC PLUMMET ON WALL STREET

Jul 27, 2018

By Christine Ross

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In one day, Facebook lost 119-billion dollars Thursday, one of the biggest one-day losses of market value in U-S stock market history. Stock in the social media company fell 19 per cent. Business analysts say privacy issues are hurting the social network in Europe. However, the company still has a total market value close to 511-billion dollars, which exceeds the annual gross domestic product of countries like Poland, Belgium and Iran. The sell off came after the company reported it expects to see slower growth ahead. In addition, it continues to deal with privacy scandals.

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