Meta’s Sliding Shares Pull Down Key Stock Indexes; US Economic Growth and Inflation Rise, causing Bond Interest Rates to Increase

On Wall Street, Meta’s stock lost more than a fifth of its value following last night’s news, causing key stock indexes to open sharply lower on Thursday. The S&P 500 general index was down 1.4 percent, driven by declines in the communications sector. Additionally, the Nasdaq fell by 1.6 percent and the Dow Jones index by 1.7 percent.

Stock futures began to decline on Thursday afternoon following the publication of new economic macro numbers in the United States. The US economy grew slower than anticipated at the beginning of the year, while recent price indices suggest higher-than-expected inflation. As a result, US government bond interest rates started to rise significantly.

Among individual stocks, Meta attracted attention on Wall Street after reporting lower-than-expected sales forecasts and plans to invest heavily in artificial intelligence development work. Meta’s shares were down 11.8 percent at $435.22 after five o’clock.

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