SPDR S&P 500 (SPY): Ouchie... Facebook's $100 billion...

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Thursday, 07/26/2018 2:29:38 PM

Thursday, July 26, 2018 2:29:38 PM

Ouchie...

Facebook's $100 billion-plus rout is the biggest loss in stock market history

Fred Imbert | Gina Francolla
Published 1 Min Ago
CNBC.com

Facebook was on track Thursday to post the largest one-day loss in market value by any company in U.S. stock-market history after releasing a disastrous quarterly report.

Through midday Eastern Time, the social media giant's market cap had plummeted by about $120 billion to about $508 billion as its stock price lost more than 19 percent. Facebook's market cap totaled nearly $630 billion as of Wednesday's close, per FactSet.

No company in the history of the U.S. stock market has ever lost $100 billion in market value in just one day, but two came close.

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