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A Facebook stock collapse wiped out $119 billion in market value on Thursday in one of the worst single-day losses in history.

Facebook’s drop pulled technology stocks lower on Wall Street, even as other sectors climbed.

Facebook’s losses came after the company warned of slower growth ahead.

Renewed optimism that the U.S. and Europe might make progress on easing trade tensions helped send several companies higher on Thursday. Caterpillar rose 1.5 percent.

Strong earnings reports also helped send stocks higher. Airlines, energy companies and consumer goods stocks rose.

Small-company stocks did better than the rest of the market.

 

Source: The Washington Times