Facebook stock collapse wipes out $119 billion in market value, one of the worst single-day losses in history

NEW YORK (AP) — Facebook stock collapse wipes out $119 billion in market value, one of the worst single-day losses in history. The company’s shares plunged $41.24, or almost 19 percent, to $176.26 a day after the social media giant reported disappointing results. Intel Corporation (NASDAQ: INTC) currently holds the record for biggest single-day market cap loss at $90 billion during the bursting of the dot com bubble back in September of 2000.
Facebook stocks drop 20% (US$118 billion), setting a record as the biggest single stock market loss in one day, and marking the first time that a stock lost over $100 billion in one day.