Facebook stock drops by $119 billion

FACEBOOK lost $119 billion in stock value on Thursday.

Shares of Facebook stock tumbled 19 percent on Thursday in stock trading, wiping out an estimated $119 million in value by the close of financial markets.

In terms of found and CE0 Mark Zuckerberg’s personal holdings, it’s estimated that he suffered a loss of $16 billion. That dropped him from fourth to sixth on the list of the richest people in the world, according to Forbes.com.

Facebook, which has an estimated 1 billion patrons, has suffered from bad press about its role in privacy violations and election meddling, as well as making possible the proliferation of “fake news.”

The decline is believed to be the biggest decline by a single company in a single day in stock market history.