Tech stocks like Meta and Amazon take a significant hit towards stock price as earnings and economic reports come in.
On Thursday, Meta ($META) stock fell 24.56% during market hours to about $96 per share. From a previous price of around $130.
The social media "giant" had faced more than a half a trillion dollar wipeout this year alone and is expected to drop further as economy's condition remains questionable.
The company continues to face challenges in regards to Apple's new user policy changes, and competition from social media giant, TikTok.
Ecommerce company, Amazon ($AMZN) fell 4.06% during market open, and over 12% after hours. The company fell short of earnings causing the stock to dip.