Fb is experiencing one its worst days as a publicly traded firm. In line with CNBC, Fb misplaced about $119 billion of its worth on Thursday, marking the largest one-day loss in U.S. market historical past. CBS MoneyWatch reported:

The corporate’s shares plunged $41.24, or nearly 19 %, to $176.26 a day after the social media large reported disappointing outcomes. The slide is the biggest decline in market capitalization in historical past, exceeding Intel’s $91 billion single-day loss in September 2000, in keeping with Bloomberg information.

Founder and CEO Mark Zuckerberg noticed his fortune drop by $15.9 billion to roughly $71 billion. His private loss alone, if solely on paper, exceeds the worth of firms comparable to Molson Coors and Macy’s, which have market values of $14 billion and $12 billion, respectively.

Traders had been spooked by Fb’s forecast exhibiting that its variety of lively customers is rising much less shortly than anticipated, whereas the corporate additionally took successful from Europe’s new privateness legal guidelines.