9 companies that saw the biggest single-day dip in market-cap

Social media giant Facebook saw the biggest one-day stock price decline of more than $100 billion from its valuation last week. While Facebook's loss looks big, there are other instances of similar magnitude. Here's a look at the biggest single day stock specific declines.

Last week, shares of social media giant Facebook wiped out a staggering $120 billion in market capitalisation in a single day, after its earnings report was released. Market capitalisation of the social media giant stood at $629 billion as of Wednesday's close, with chief executive Mark Zuckerberg seeing nearly $17 billion of his personal stake wiped out. The drop, which was the largest single decline in the firm's history as a public company, wiped more than $100 billion from the company's market value.

In 2000, $91 billion of the chip maker's worth evaporated when it announced weak demand in Europe would cause third-quarter revenue to disappoint. Around 22% of company's value was wiped off amid heavy trading volumes. The crash was one of the biggest single stock routs at that time.

Microsoft lost $77.2 bn in April 2000 after a 14.5% drop in its share price as a fallout of dotcom bubble burst. Founder Bill Gates, who was then the company's largest shareholder, lost around a record $11 billion in the carnage. The decline was triggered by a federal court decision which found that the company was violating US's antitrust laws.

In January 2013, Apple Inc's shares fell by as much as 12%, which was the biggest drop since 2008. It sliced more than $50 billion from the company's market value. Experts at that time said the iPhone maker was losing its dominance in smartphones and needed new products to compete with other market players.

Exxon Mobil has been a leader in size and importance in the oil and gas sector of the United States. In October 2008, the oil major reported a $52.5 billion single day loss. The fall was attributed to OPEC's monthly report which cited renewed worries of the global recession hitting the oil demand and stalling the world economy. Crude oil prices touched a then record low of $74.62 and the oil major Exxon was the worst hit.

In 2008, GE's market cap had a record fall of around $47 billion on April 11. The share prices fell by 13%. Experts said the fall was due to company's below average performance, which didn't meet analysts' expectations.

On February 2, 2018, Google parent Alphabet saw its market cap drop by more than $41 billion. The drop was attributed to company's negative quarterly profit forecasts leading to a decline of more than 5% after results announcement. Reports suggested that the California-based search giant was losing out on consumer gadgets, YouTube video app and cloud computing services.

During the 2008 financial crisis, Bank of America lost more than $38 billion in market valuation, as its share price fell by around 26%. The trigger was a steep decline in quarterly profits and the company announcing a cut in the dividend. It also hinted at a need to raise $10 billion capital through a stock sale and look into the growing bad loans issue.

Jeff Bezos-owned online retailer Amazon's shares fell by more than 5% on April 2, 2018, wiping out nearly $36.5 billion from its market cap. Despite being among the best performing stocks over the past 12-months period, Amazon lost a huge sum owing to a tweet from President Donald Trump, where he accused Amazon for scamming the US Postal Service. He said the service loses "billions of dollars" delivering packages for the e-commerce giant.