Facebook Falls From Grace, and Investors’ Stock Holdings Tumble Too - The New York Times

In other Facebook news, see Facebook, longtime friend of data brokers, becomes their stiffest competition (Washington Post)

"Since hitting its peak on Feb. 2, Facebook has lost an astonishing $100 billion in market capitalization. Its stock was trading midweek at close to $153 a share, a decline of nearly 22 percent. (It rebounded by about 4.5 percent Thursday and closed at $159.79.)

With Facebook’s plunge, investor concerns have spread to other social media and internet stocks with lofty multiples, like the so-called FANG stocks — Facebook, Apple and Amazon, Netflix and Google — and Twitter. They accounted for more than 10 percent of the S.&P. 500 at their peak."

Facebook Falls From Grace, and Investors’ Stock Holdings Tumble Too - The New York Times