A plunge in Facebook's parent company weighs on tech stocks

21 Sept 04:20 Key points summarised by AI

Meta Platforms, Facebook's parent company, suffered a historic 26.4% stock plunge, wiping out over $230 billion in market value due to a weak revenue forecast, Apple's privacy changes, and increased competition from TikTok.
This massive decline in Meta's stock significantly impacted the broader market, pulling down other tech stocks and major indexes, with the S&P 500 falling 2.4% and the Nasdaq composite dropping 3.7%.
The market is experiencing a shift away from high-growth tech stocks as investors anticipate rising interest rates from the Federal Reserve to combat inflation, making these companies relatively less attractive.

New home loan scheme aims to boost property sector with Bt125 billion

Yesterday 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.