The S&P 500, the Dow Jones industrials, and the Nasdaq have sold off sharply for December and are on track for their biggest annual declines since the 2008 financial crisis.
Meta Layoffs: In one of the worst lay-offs ever in the tech industry, Meta Founder and CEO Mark Zuckerberg sacked more than 11,000 employees about 13 per cent of the global workforce - and extended hiring freeze through Q1 2023.
Meta's metaverse-related Reality Labs lost $3.7 billion in the third quarter, taking losses this year to $9 billion, and a digital ads slowdown is hitting techs.