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The Biggest Stock Market Wipe-out in History

July 27, 2018 By Jeremy Jones, CFA

Facebook’s shares cratered yesterday, racking up the biggest single-day wipe-out in stock market history. The company lost $119 billion dollars of market capitalization in a single day. There are fewer than fifty stocks in the U.S. that have a total market value of $119 billion. Zuckerberg’s fortune fell by almost $16 billion yesterday.

Sophie Caronello reports at Bloomberg:

It’s official. Facebook Inc. just had the biggest stock-market wipeout in American history. Shares tumbled 19 percent on Thursday to close at $176.26 after sales and user growth disappointed investors. The drop translates to a $119.4 billion decline in market capitalization, the largest-ever loss of value in one day for a U.S. traded company.

Read more here.

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Jeremy Jones, CFA
Jeremy Jones, CFA, CFP® is the Director of Research at Young Research & Publishing Inc., and the Chief Investment Officer at Richard C. Young & Co., Ltd. Richard C. Young & Co., Ltd. was ranked #10 in CNBC's 2019 Financial Advisor Top 100. Jeremy is also a contributing editor of youngresearch.com.
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