U.S. stocks ended Thursday’s session mixed, with the Dow closing at its highest level in five months and the broader market weighed by the worst single-session loss of value by a U.S. publicly traded company ever. Shares of Facebook FB, -1.35% tumbled nearly 19% on the day. Meanwhile, the Dow Jones Industrial Average DJIA, -0.42% finished the session up about 113 points, or 0.4%, at 25,527, marking its third straight gain and its highest close since Feb. 26, according to FactSet data. The S&P 500 index SPX, -0.82% meanwhile, ended 0.3% lower at 2,837, pressured by a sinking technology sector XLF, +0.24% while the Nasdaq Composite Index COMP, -1.63% finished the day off 1% at 7,852, a day after posting its 25th record of 2018. The story of the day, however, was Facebook’s historic slide as investors responded to disappointing guidance from the social-media giant during its earnings update, pointing to expectations for lower ad revenue in the wake of its Cambridge Analytica scandal. Facebook’s decline marked its worst since it became a public company on May 18, 2012 and cut about $120 billion in value from its market capitalization, the steepest loss from a U.S. public company since Intel Corp. INTC, -8.71% shed $90 billion back in 2000, according to WSJ Market Data Group. Because most stock indexes are market-cap weighted, Facebook’s powerful drop weighed mightily on the tech-heavy Nasdaq and the broader market, which tends to be market-cap pegged. Optimism for the Dow follows signs of a thaw in trade tensions between the U.S. and its trade partners in Europe.
See Full Story S&P 500, Nasdaq slump as Facebook books biggest one-day drop ever
U.S. stocks close mostly lower Thursday, weighed by sharp losses in technology shares as Facebook posted its biggest one-day