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 is based upon a weaker-than-expected revenue forecastThe previous record was set by Apple, when it lost $182 billion in market value in September 2020.

These seven largest drops in stock markets history all took place in the two most recent years. Apple, Microsoft, TeslaAnd AmazonValuation has risen dramatically. 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.

The company’s decline in value of Meta is due to its shifting focus from current business, like Facebook and Instagram, towards the metaverse. This virtual world, built on new technology, has been announced by Mark Zuckerberg, Chief Executive Officer. Mark Zuckerberg, chief executive officer of Meta announced Wednesday that Meta will suffer a $10 billion net loss in 2021. attributable to Meta’s investment in the metaverse.

Below is a chart showing the biggest one-day drops in stock market valuations since July 2018.

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