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How Facebook’s $124 Billion Rout Could Rewrite History Books

  • Facebook lost as much as $124 billion in market cap today
  • Loss greater than previous one-day plunges at Intel, Apple
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Bloomberg’s Luke Kawa and Romaine Bostick look at the market fallout from Facebook’s disappointing earnings report. Markets: The Open." (Source: Bloomberg)
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Facebook Inc. has racked up plenty of milestones in its pioneering journey. Now the social-media giant has added another one that it would have rather avoided: the biggest stock-market wipeout in American history.

Shares tumbled as much as 20 percent in New York on Thursday as sales and user growth disappointed investors. This translates to a $124 billion decline in market capitalization, which is the largest ever loss of value in one day for a U.S. traded company.