Communications-services companies ticked down amid a flight from risk.
Meta's stock tanked in late trading as aggressive AI capex plans overshadowed solid quarterly growth. The selloff signals a market rotation toward risk-off: investors now demand hard ROI data on AI spending, not multi-year promises.
Communications-services companies ticked down amid a flight from risk.
Shares of Meta Platforms plunged in late trading, weighing on other social-media issues, after AI spending plans overshadowed the Facebook owner's quarterly earnings growth.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
July 29, 2026 17:32 ET (21:32 GMT)
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