- Associated Press - Thursday, July 26, 2018

NEW YORK — A Facebook stock collapse wiped out $119 billion in market value on Thursday in one of the worst single-day losses in history.

Facebook’s drop pulled technology stocks lower on Wall Street, even as other sectors climbed.

Facebook’s losses came after the company warned of slower growth ahead.

Renewed optimism that the U.S. and Europe might make progress on easing trade tensions helped send several companies higher on Thursday. Caterpillar rose 1.5 percent.

Strong earnings reports also helped send stocks higher. Airlines, energy companies and consumer goods stocks rose.

Small-company stocks did better than the rest of the market.

The S&P 500 index slipped 8 points, or 0.3 percent, to 2,837.

The Dow Jones Industrial Average rose 112 points, or 0.4 percent, to 25,527. The Nasdaq composite slid 80 points, or 1 percent, to 7,852.

Sign up for Daily Newsletters

Manage Newsletters

Copyright © 2020 The Washington Times, LLC.

Please read our comment policy before commenting.


Click to Read More and View Comments

Click to Hide