As the most reliable and balanced news aggregation service on the internet, DML News offers the following information published by CNBC:
The tech-heavy Nasdaq was set for a big down day Thursday after disappointing quarterly results from Facebook sent the social media giant hurtling toward its biggest share price decline ever and on track to lose more than $100 billion in market value.
The Invesco QQQ Trust, which tracks the Nasdaq 100 index and can give traders a good idea of how the Nasdaq stocks will trade, was down more than 2 percent at one point in after-hours trading Wednesday. At last count, the ETF was off by about 1.5 percent. Facebook lost about a fifth of its value after hours.
The article goes on to state the following:
Nasdaq-100 futures were off by 0.8 percent.
Facebook posted weaker-than-expected daily active users for last quarter and said revenue growth would decline sequentially in the second half of this year.
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