Shares of several gaming, streaming and social media companies, including Meta Platforms Inc FB, are trading lower amid overall market weakness as stocks continue to fall amid concerns over the potential economic impacts of Fed rate hikes and the Russia-Ukraine conflict. Traders also weigh recent earnings reports.
The 10-year note has risen from a low of 0.5% in 2020 to nearly 3.0% in April. In general, earnings years into the future are worth less today when interest rates rise. A rise in Treasury yields also correlates to a rise in bonds, which has the effect of dissuading cash from flowing into high-growth, high price/earnings stocks.
See Also: What's Going On With Microsoft Stock Today?
According to data from Benzinga Pro, Meta Platforms is trading lower by 2.60% at $182.12. Meta Platforms has a 52-week high of $384.33 and a 52-week low of $179.50.
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