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Facebook suffers biggest one-day drop ever, puts Amazon investors on guard

Amazon shares fell nearly 3 percent to $1,811.66, while shares of Netflix, Alphabet and Apple were flat

Reuters  |  New York/San Francisco 

A plunge in Facebook Inc shares rattled the Inc options market on Thursday, with the social network's fellow FAANG company due to report quarterly results later in the day. Facebook on Wednesday warned about a margin hit as revenue growth slows and user privacy costs climb, and its 20 percent share drop heightened focus on the online retailer, already a closely watched stock. Amazon was the second-biggest decliner in the so-called FAANG group of high-flying tech companies, but Facebook's second-quarter earnings also cast a pall on shares of Apple Inc, Netflix ...

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First Published: Thu, July 26 2018. 23:40 IST