Snap sales wipe $76 billion off social media stocks; Twitter falls 2.5%

US social-media giants were poised to see more than $76 billion wiped off their stock-market values after disappointing revenue from Snap raised concerns about the outlook for online advertising. 

The Snapchat parent plummeted as much as 30 per cent in premarket trading. Meta Platforms fell 4.8 per cent, Google owner Alphabet declined 2.8 per cent, Twitter slipped 2.5 per cent and Pinterest slumped 7.2 per cent.