Shares for the companies Meta Platforms and Alphabet (the parent company of Google) dropped during Thursday Wall Street trading as investors worried about revenue streams.
Snapchat's recent warning that it had its slowest revenue growth since itwent public five years ago had investors worried about other similar companies.
Wall Street investors see companies that sell digital ads as possibly precarious in this economic environment, which was laid bare with Snapchat's recent earnings report.
Snapchat partially blamed inflation as a major contributing factor to its lackluster revenue.