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The Market's Gone Mad: Facebook Sinks the Nasdaq and Tweetrums Run Amuck

It's a hectic Thursday morning in the market.


Facebook Inc. (FB) - Get Meta Platforms Inc. Report disappointed investors when it released its earnings on Wednesday night. The social media giant also had a wacky investors call. In response, the stock sank 20% in overnight and was still down 18% in morning trading.

The stock plunge brought the Nasdaq down nearly 1% and cost the company over $100 billion on its marketcap.

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But, Facebook isn't the only one plunging Thursday morning. Mattel was crashing in the morning after it announced earnings Wednesday night. The toy company has been suffering since Toys 'R Us shuttered its doors. In response to poor earnings, Mattel announced that it will be cutting over 2,000 jobs.

Mattel Inc. (MAT) - Get Mattel Inc. Report was down nearly 7% in morning trading.

Twitter was also a big story as the market opened. President Trump kicked off the morning with a tweetrum about Twitter "shadow banning" prominent Republicans. 

And Elon Musk was active on Twitter, responding to users about the accusations that he called a prominent Tesla critic's boss.