In the wake of Meta, the titles of other networks collapsed.
(Photo: AP)
new York Record price falls at Facebook parent Meta and music streaming service Spotify have disrupted Wall Street’s recent recovery rally. The Nasdaq 100 index suffered its biggest one-day percentage loss since September 2020 on Thursday.
The leading index Dow Jones Industrial slipped by 1.5 percent to 35,111 points after four consecutive days of winning. The tech-heavy Nasdaq fell 3.7 percent to 13,878 points and the broad S&P 500 fell 2.4 percent to 4,477 points.
The forthcoming US labor market data also made investors nervous. Experts expect the creation of 150,000 jobs outside of agriculture. However, the figures from the private US employment agency with a surprising job cuts delivered a bad omen. Should official data on Friday also point to a slowdown in the US jobs market, this would be an important reason for the Federal Reserve to raise interest rates cautiously, said investment strategist Soni Kumari of ANZ Bank.
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