Meta market cap falls to $514bn as Russia blocks social media giants | TheCable

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.Meta market cap falls to $514bn as Russia blocks social media giants via thecableng RussianUkrainianWar

March 7, 2022 8:50 PM

Amid its war with Ukraine, Russia completely blocked access to Facebook in retaliation for the platform placing restrictions on state-owned media.Analysts said that stocks have continued to slide on fears of the economic damage that the rise in global commodity prices and economic boycotts will do, notably in Europe, a key market for many United States companies.By 14:40 GMT on Monday, the Dow Jones Industrial Average was down 253 points, or 0.8 percent at 33,362 points.

Boeing was joined over the weekend by Netflix, American Express, and accounting giants KPMG and PwC pulling their products and services from Russia.

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