Market on its head. big tech was battered. alphabet stock fell nearly 40% and microsoft lost about 28%. apple is down about 29% for the year and facebook parent company m meta down 2%. and the meta verse missed the mark. the company lost $232 billion. the dow fared the best out of the indexes this year. down 9%. the s&p tumbled more than 20%. nasdaq fell almost 34%. now some americans may have to delay retirement after this year on wall street. the market volatility is chewing away at the value of 401(k)s and through the third quarter, the average amount the average balance and the average 401(k) was down about 23% from a year ago. that is according to fidelity investments.
Facebook. meta s shares fell more than 26%, shaving off $232 billion in mark value, which was the largest single-day decline in market value on record for any u.s. company. to put that into perspective, that loss is larger than the entire market value netflix and at&t. they say the daily active users dropped for the first time in its 18-year history. as a result of the sharp decline, facebook s ceo mark zuckerberg s net worth fell by $31 billion. food prices have climbed to their highest level since 2011. according to a global index released yesterday by the united nations, the surging prices are due to disruptions in the global supply chain, adverse weather and rising energy costs. experts say the increases are having the most impact on poor nations.
A single day. ceo mark zuckerberg personally lost nearly $29 billion. that big $232 billion number, that loss, it lost yesterday more than any u.s. company ever has and the value of the loss is worth more than the entire value of mcdonald s, at&t, goldman sachs or ford. contagion spread through tech and wall street. the rare profit drop for meta because of apple s new privacy policy. the big event today, a messy jobs report. millions of people out sick with omicron. it may have dented the job market temporarily. the u.s. likely added just 150,000 jobs in january. if that happens, it would be the worst month since december 2020 when the u.s. actually lost jobs. we re expecting the jobless rate to stay at a very low 3.9%. i want to discuss with the experts here, mark zandi, chief economist from moody s ana analytics. we saw from adp they shed
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Something like $232 billion in context around that. that is more than any of the following companies are worth. mcdonald s, at&t, goldman sachs, or ford. that s how much meta lost in one day. why did this happen? they reported this rare decline in profits. and it was really driven by a few factors. the fact that user growth declined. they had an explosive growth in users, no longer. people are flocking to other platforms including tiktok, particularly younger users. meta also said that their ad revenue has slowed down, that s for a number of reasons including some rule changes by apple. and then also meta s plunging down a ton of money on the metaverse, which is mark zuckerberg s vision for the future of the internet built on augmented reality and virtual reality. i think the key here is that that is his vision for the future. even though they renamed the company, metaplatforms,