Facebook parent MetaMore than $232 billion was lost in value on Thursday. It’s the greatest one-day loss in U.S. stock markets history.

Meta’s plunge, which is based upon a weaker-than-expected revenue forecastThis record had been held by. Apple, when it lost $182 billion in market value in September 2020.

All seven of the largest stock market drops have occurred within the past two years. Apple, Microsoft, TeslaAnd AmazonThey have seen a dramatic increase in their valuation. Prior to 2020, the largest drop was from Facebook — a $119 billion decline in 2018.This also happened after Facebook forecast revenue below analyst estimates.

Meta’s value has dropped because the company looks beyond its existing businesses like Facebook, Instagram, WhatsApp and is moving toward metaverse. It is a virtual realm built upon new technology. Mark Zuckerberg, Chief Executive Officer of Meta, announced Wednesday that the company will lose $10 billion by 2021. attributable to Meta’s investment in the metaverse.

Here is the chart that shows how much stock market volatility has dropped in one day since July 2018, as shown below:

CORRECTION – This article was updated to reflect the Thursday’s loss in Meta’s market capitalization.