Why Meta Stock Is Falling Hard Today

The stock of Meta Platforms (NASDAQ: META) was tumbling this morning after comments made by CEO Mark Zuckerberg about the economy and cutting back on hiring. Reuters reported this morning that Zuckerberg said in a weekly employee meeting that the company is expecting a significant economic slowdown and will drastically cut back on the number of people it previously expected to hire. "If I had to bet, I'd say that this might be one of the worst downturns that we've seen in recent history," Zuckerberg said in the meeting, according to Reuters.