Facebook’s $120 billion stock hit was the biggest single-day loss in US history — here’s how it compares to other major public companies

Facebook reported lower-than-expected quarterly results last week, resulting in an initial 24% stock drop before eventually levelling out to a 19% dip.

It was enough to cause Facebook’s market capitalisation to plummet $US119.4 billion as the company’s disappointing results – as well as a discouraging upcoming quarterly forecast – caused a massive stock market sell-off.

As this chart from Statista shows, the almost $US120 billion drop is the biggest single-day market cap loss suffered by a US public company, beating out Intel’s $US90 billion drop in 2000.

Despite the record-breaking loss, Facebook’s current price of $US174.89 is still above its share prices in late March following news that data company Cambridge Analytica harvested millions of user profiles illegitimately.

Shayanne Gal/Business Insider

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