Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., January 26, 2022. REUTERS/Brendan McDermid
(Reuters) - Facebook owner Meta Platforms Inc's quarterly earnings miss and poor forecast on Wednesday ignited a meltdown in social media stocks and threatened to smother a recent recovery from a Wall Street tech selloff.
Meta tumbled 21% following its quarterly report after the bell, erasing about $200 billion worth of its stock market value. A decline of this size in Thursday's session would mark the company's worst one-day loss since its Wall Street debut in 2012.
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