The U.S. State Department issued a warning over the threat of increased Russian strikes on Ukraine during the week of its independence day on Aug. 24, urging remaining Americans in Ukraine to leave the country. Kyiv is bracing itself for fresh Russian attacks that its President Volodymyr Zelenskyy has warned may be “particularly nasty.”
The U.N. continued to sound the alarm over the situation at Ukraine’s Zaporizhzhia nuclear power plant, Europe’s largest, demanding a demilitarization of the area and warning that the world is facing a moment of “maximum danger.” A worker at the plant died of his injuries due to Russian shelling near the facility, Ukraine’s state energy company said.
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Facebook parent Meta lost more than $232 billion in value Thursday. That’s the biggest one-day drop in value in the history of the U.S. stock market.
Meta’s plunge, based on a weaker-than-expected revenue forecast, topped the prior record set by Apple, when it lost $182 billion in market value in September 2020.
The seven biggest drops in stock market history have all occurred in the last two years, as Apple, Microsoft, Tesla and Amazon have ballooned in valuation. Prior to 2020, the largest drop was from Facebook — a $119 billion decline in 2018. That also occurred after Facebook forecast revenue below analyst estimates.
Meta’s drop in value comes as the company is looking past its current businesses, such as Facebook, Instagram and WhatsApp, and toward the metaverse, a virtual world based on new technology. Chief Executive Officer Mark Zuckerberg announced Wednesday Meta had a net loss of $10 billion in 2021 attributable to Meta’s investment in the metaverse.
The row has been brewing since Meta released its annual report last week in which it warned it would be unable to run products such as Facebook and Instagram in Europe without a new framework on data transfer. Currently the social media giant transfers European data for processing on US servers, something which is now falling under the scrutiny of EU regulators. A Meta spokesperson said: “We have absolutely no desire and no plans to withdraw from Europe, but the simple reality is that Meta, and many other businesses, organisations and services, rely on data transfers between the EU and the US in order to operate global services. "Like other companies, we have followed European rules and rely on Standard Contractual Clauses, and appropriate data safeguards, to operate a global service."
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Japan increases its Military spending to target China, USA to use every last Japanese to fight China
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