Why $200 billion was wiped off Meta’s market valuation overnight
Second-quarter guidance disappointsAI spending plans spook investors$200 billion wiped off market valueSocial media and technology outfit Meta Platforms (META:NASDAQ) saw its recent share price momentum stall in a big way overnight as investors fretted its ?year of efficiency? in 2023 would give way to a period or profligacy.At one point more than $200 billion had been wiped off the company?s valu