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Opinion
John Authers

Meta’s Tumble as the Hawks Spread Their Wings

The BoE and ECB raise rate-hike expectations, while the Nasdaq digests the losses in market cap that they’re helping to trigger.

When Wall Street’s expectations seemingly misalign with company realities.

When Wall Street’s expectations seemingly misalign with company realities.

Photographer: Michael Nagle/Bloomberg
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Sometimes, in fact most of the time, market analysis rests on conjecture. Multiple factors drive changes in security prices. There are moments when human sentiment trumps everything. And others when there’s big news, and the market makes an immediate and sensible response to it. Thursday brought us one of those all-too-rare latter occasions.