Bloomberg Businessweek

FAANG Falls Apart

Is Facebook’s flop a sign of a stock market on edge?

It’s not new to say that we see the world through Facebook Inc.’s eyes. Increasingly, the market does, too.

Investors have gotten plenty of encouraging news lately. There’s been a trade truce between the U.S. and the European Union, U.S. economic growth has been strong, and corporate earnings are likely to top 20 percent growth. But when the market opened on July 26, one story commanded everyone’s attention: an earnings report from Facebook in which revenue rose 42 percent, instead of an expected 43 percent.

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