Story perspectives

Meta Shares Plunge After First Negative Free Cash Flow Since 2012

By Drooid · Oct 23, 2026, 10:38 PM UTC · How we work

Summary

Story summary

U.S. stocks plunged, with the Nasdaq Composite falling 2.6% on Oct. 22, its largest drop since June.
Meta Platforms shares slid 7% after reporting its first quarterly negative free cash flow since 2012.
Tesla stock fell 2% as the company cut its 2024 capital expenditure target to $20 billion from $25 billion.
Brent crude surged 4% to $113 a barrel, its highest level since May.

History

Historical Context

During the week of October 6-10 2008 the Dow fell 1,874 points (-18.2%), after Lehman Brothers’ September 15 bankruptcy and the passage of the $700 billion Troubled Asset Relief Program on October 3. The crisis led the Federal Reserve to slash rates, a pattern echoed today as Nasdaq slides, Meta’s cash-flow loss and Tesla’s capex cut revive investor-risk concerns.

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Story summary

U.S. stocks plunged, with the Nasdaq Composite falling 2.6% on Oct. 22, its largest drop since June.
Meta Platforms shares slid 7% after reporting its first quarterly negative free cash flow since 2012.
Tesla stock fell 2% as the company cut its 2024 capital expenditure target to $20 billion from $25 billion.
Brent crude surged 4% to $113 a barrel, its highest level since May.

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