Facebook lost ૯ 113 billion in a single day in 2016

Washington, Dt

Global outages on Facebook, WhatsApp and Instagram on Monday eroded the market cap of its owner, Facebook Inc., by 2.8 billion in a single day. However, Facebook had earlier lost ૯ 114 billion in a single day, the biggest loss to a company in the US stock market in a single day.

In a single day after Facebook announced its quarterly results in July 2016, the stock had plunged 115 billion. When the US stock market closed on Wednesday, July 9, 2018, Facebook was valued at US ૬૩ 20 billion. Its market cap fell to ૫ 210 billion on July 9, 2016, just a day after its stock plunged 12 per cent. No company in American history has lost more than 100 billion in market value in a single day.

Companies other than Facebook have also suffered huge losses in the stock market in a single day. Intel's market cap was eroded by 20.6 billion on September 9, 2000, when the dot-com bubble burst in the United States. The following year, Microsoft also lost માર્ 50 billion in market cap in a single day. Among other companies that lost billions of dollars in a single day, Apple lost ૬ 2.8 billion in 2016 and Exxon Mobil lost ૫ 4.5 billion in 2008.