Facebook’s stock market decline is the largest one-day drop in US history
CALIFORNIA: After a surprisingly weak growth forecast in this week’s earnings report, Facebook’s stock price dropped 19 percent. The decline, which erased about $120 billion in market value, is the largest one-day drop in the history of the American stock market.
Facebook shares fell as much as 23 percent in after-hours trading when Facebook reported its second-quarter earnings. While revenue increased 42 percent in the quarter, it still missed analysts’ projections.
More worrisome was the number of daily active users,…