The economic collapse of Facebook: it drops 19% on the stock market and loses more than 119 billion dollars

Aaron Chinchilla EP. | The Facebook technology platform recorded a 19% decline in the Nasdaq composite market index. This collapse meant the loss of $ 119 billion capitalization of the company

As it appeared, the social network suffered its worst fall in the history of the US stock market . After the close of the trading session, the company's shares traded at $ 176.26, down sharply from $ 217.50 yesterday.

Facebook's decline in revenue comes amid the Cambridge Analytica scandal . However, it was not the only loss that the social network has had. In the last quarter, Facebook recorded a $ 129 million decline in quarterly earnings anticipated by analysts.

In addition, the number of social network users decreased by 11%. 282 million in March to 279 million in June and the same trend has occurred in the United States and Canada. In both countries, the number of monthly users stagnated at 241 million. Latin America.

The collapse of Facebook contacted other key companies in the social media industry such as Twitter (-3.03%), Snapchat (-1.79%) and the Amazon e-commerce giant (-1.87%).

In general, the Standard and Poor's 500 index lost 8 points (0.3%), or 2,837 points. In contrast, the Dow Jones rose 112 points or 0.4% to close at 25,527.

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