Social media shares drop $ 233 billion in one day as Snapchat becomes canary in coal mine
Shares of social media on Wall Street lost $ 165 billion ($ 233 billion) in one-day trading after a disastrous earnings warning from Snapchat’s parent company. Shares of Snap fell more than 40 percent on Tuesday and reached their lowest level since March 2020, just after the COVID-19 pandemic hit the United States. The company …