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Facebook shares dive 19%, shedding $120 billion in market capitalization

July 26, 2018

Via: USA TODAY

SAN FRANCISCO — Facebook shares dove 19 percent Thursday, with the social networking giant shedding about $120 billion in market value after the company warned of slowing sales growth.

The decline marked Facebook’s largest stock market decline ever, eclipsing a 12 percent drop on July 27, 2012. And the loss could be historic, as it would be the biggest stock-market wipeout for a U.S. company ever, according to Bloomberg. The previous largest loss of value in one day: $91 billion, which Intel lost in September 2000.

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