Shares of major technology companies in the United States faced heavy losses, as the market value of these firms dropped by billions of dollars following a sudden outage that affected Facebook and other applications. According to a report from Bloomberg, Facebook was the biggest loser, with its stock closing yesterday down 4.89% at $323.23, marking the largest decline in nearly a year. The drop came after a sudden outage that impacted the services of Facebook, WhatsApp, and Instagram, leaving over a billion users worldwide unable to access their accounts.
Other technology and internet companies also felt the impact, with Alphabet (Google) shares declining by 2.11%, American giant Apple by 2.46%, and Amazon by 2.85%, while Microsoft lost 2.1%. Consequently, the Nasdaq composite index closed sharply lower yesterday, as investors dumped shares of major tech companies, with the index falling by 2.14% to 14,255.49 points.
