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Facebook just had the worst day in stock market history

Facebook just had the worst day in stock market history

Shares in Alphabet (:GOOGL.O) closed up 0.7 percent, while those in Apple Inc (:AAPL.O) fell 0.3 percent and Netflix Inc (:NFLX.O) closed barely higher.

The plunge came after Facebook executives said the company expected a significant slowdown in its revenue growth in the years ahead.

Second, the company is placing more emphasis on Stories, the packages of posts and photos users can share with their friends that generally disappear after 24 hours. Eastern time. Snap's shares were down by more than 2 percent. "It just seems like the magnitude is beyond anything we've seen, especially across a number of the tech (companies) we cover".

"While those actions might take time to play out, it is still possible that threatened fines associated with GDPR to Facebook or other sellers of advertising could also have the effect of spooking advertisers into changing how they use data", said Wieser, who thinks the shares should be worth $140 United States - well below Thursday's level.

Facebook has drawn investors because of its fast growth of users and profits.

After the General Data Protection Regulation went into effect in Europe, Facebook started asking people to check their privacy settings and make sure they wanted to share certain kinds of data.

Despite increasing subscription costs, Amazon Prime subscription revenues grew 57 percent to $3.4 billion.

For advertisers, though, Facebook and Instagram are performing as well as ever.

But Wehner said the product has "lower levels of monetization", while adding that the company plans to invest in growing the service.

"This is a direct result of scale as it becomes increasingly hard to grow at such high rates when a company hits this size", Windsor wrote.

"Weaknesses in AI are forcing [Facebook] to keep hiring humans to do the jobs that the machines are incapable of", he said.

After a surprisingly weak growth forecast in this week's earnings report, Facebook's stock price dropped 19 percent today.

FILE - Facebook's CEO Mark Zuckerberg answers questions about the improper use of millions of users' data by a political consultancy, at the European Parliament in Brussels, Belgium, in this still image taken from Reuters TV, May 22, 2018.

It continues, "In approving this annual security allowance, the Committee considered Mr. Zuckerberg's position and importance to Facebook and the fact that Mr. Zuckerberg has requested to receive only $1 in annual salary and does not receive any bonus payments or equity awards ..."

Shares in other technology companies were dragged down by the social media giant, as the technology sector fell 1.9%.

"Our total revenue growth rate decelerated approximately 7 percentage points in Q2 compared to Q1", he said.

Facebook suffered a blow in China on Wednesday when regulators there withdrew their approval of a company innovation hub to support local startups, the New York Times reported on Wednesday, citing a person familiar with the matter.

It's a staggering drop-off for Facebook and flies in the face of Wall Street's expectations.

It was the details of Facebook's report that seemed to spook investors.

"It's really becoming the crown jewel of Bezos' empire", said GBH Insights analyst Daniel Ives.

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