Latest News

Concerns over Westpac Unite as tech chiefs depart

Wesfarmers to deploy agentic AI groupwide

Sydney Metro quietly abandoned M1 5G network hopes

Pentagon pushing AI companies to expand on classified networks

Fibre now the "dominant" tech in NBN Co's network mix

Meta suffers biggest one-day market wipeout in US history with $322bn loss

By Danilo Masoni, Akash Sriram and Noel Randewich

Feb 4 2022 11:53AM

Share price collapse shakes world tech stocks.

Meta suffers biggest one-day market wipeout in US history with $322bn loss

Shares of Facebook owner Meta plummeted 26 percent on Thursday, the biggest single-day slide in market value for a US company, after the social media giant issued a dismal forecast, blaming Apple's privacy changes and increased competition. The huge drop, erasing more than US$230 billion ...

Hi! You've reached one of our premium articles. This is available exclusively to subscribers.

It's free to register, and only takes a few minutes.

Once you sign up you'll have unlimited access to the full catalogue of Australia's best business IT content, as well as a daily news bulletin delivered straight to your inbox.

Register now

Already have an account? Log in to read this article.

Got a news tip for our journalists? Share it with us anonymously here.

© 2019 Thomson Reuters. Click for Restrictions.

Tags:

finance financial services meta meta platforms software

Partner Content

Beyond Compliance: How Australia's Aged Care Reforms Create an Innovation Imperative

Partner Content Beyond Compliance: How Australia's Aged Care Reforms Create an Innovation Imperative

Local Technology Infrastructure Is Key to Australia’s Artificial Intelligence-Enabled Future

Promoted Content Local Technology Infrastructure Is Key to Australia’s Artificial Intelligence-Enabled Future

Identity at the Centre: Why AI Is Accelerating a New Security Imperative

Partner Content Identity at the Centre: Why AI Is Accelerating a New Security Imperative

AI Goals for 2026: What Every Organisation Should Prioritise

Promoted Content AI Goals for 2026: What Every Organisation Should Prioritise

Sponsored Whitepapers

Uncomplicate IT Service Delivery with AI Agents

Uncomplicate IT Service Delivery with AI Agents

Getting ahead of the tech: what’s next for Australian organisations in digital transformation

Getting ahead of the tech: what’s next for Australian organisations in digital transformation

Fintech compliance made fast and secure

Fintech compliance made fast and secure

How to evaluate SIEM solutions Safeguarding your future Get a demo Download guide

How to evaluate SIEM solutions Safeguarding your future Get a demo Download guide

2025 Security operations insights: Three-quarters of security leaders need something new in SIEM

2025 Security operations insights: Three-quarters of security leaders need something new in SIEM

Events

Most Read Articles

Optus traces mobile outage to database software update glitch

Optus traces mobile outage to database software update glitch

Services Australia describes fraud, debt-related machine learning use cases

Services Australia describes fraud, debt-related machine learning use cases

BoM reveals plan to fix website within six months

BoM reveals plan to fix website within six months

Concerns over Westpac Unite as tech chiefs depart

Concerns over Westpac Unite as tech chiefs depart

Sydney-based AI-cloud waste startup raises $3m

Sydney-based AI-cloud waste startup raises $3m

Brennan uses NiCE to modernise its contact centre

Brennan uses NiCE to modernise its contact centre

Impact Awards: Tecala slashes customer response times for fintech IQumulate

Impact Awards: Tecala slashes customer response times for fintech IQumulate

Interactive introduces private cloud platform

Interactive introduces private cloud platform

Digital61 expands cybersecurity portfolio

Digital61 expands cybersecurity portfolio

Most popular tech stories