On Wall Street, Meta’s stock lost over a fifth of its value following last night’s news. This caused key stock indexes to open sharply lower on Thursday, with the S&P 500 general index down 1.4 percent, driven by declines in the communications sector. The Nasdaq fell by 1.6 percent and the Dow Jones index by 1.7 percent.
The US economy grew slower than expected at the beginning of the year, while recent price indices suggest higher-than-expected inflation. As a result, US government bond interest rates started to rise significantly. This news led to a decline in stock futures on Thursday afternoon.
Among individual stocks, Meta attracted attention on Wall Street after reporting lower-than-expected sales forecasts and plans to invest heavily in artificial intelligence development work. Their shares were down 11.8 percent at $435.22 after five o’clock.
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