Meta lost more than a fifth of its value after last night’s news.
Wall Street’s key stock indexes opened sharply lower on Thursday.
The S&P 500 general index, which broadly describes the US stock market, was down 1.4 percent after five o’clock. The decline in the index was driven by stocks in the communications sector.
At the same time, the technology-focused Nasdaq had fallen by 1.6 percent and the Dow Jones index by 1.7 percent.
Stock futures started a clear decline on Thursday afternoon after new economic macro numbers were published in the United States. At the beginning of the year, the US economy grew clearly slower than expected, and at the same time, recent price indices indicate that inflation is higher than previously expected.
US government bond interest rates, on the other hand, started to rise significantly after the publication of the economic figures.
Meta in rapid decline
Among individual stocks on Wall Street, a technology company attracted attention on Thursday Meta, who yesterday reported lower-than-expected sales forecasts and plans to make huge additional investments in artificial intelligence-related development work. Meta owns, among others, Facebook and Instagram.
Meta’s share was down 11.8 percent at $435.22 after five o’clock.