Stock Market needs only one negative clue to shed all its positivity.
Market started downtrend again on Tuesday.
It did not think twice to shed the Monday Rally.
The growth and inflation concern pulled down the NYSE.
Most of the US Stocks went into red zone on Tuesday.
Popular messaging app Snapchat’s CEO Evan Spiegel, warned its employees about cost cutting and freezing the future hiring.
This shocking decision came due to miscalculations in revenue of the company.
Now they will be hiring maximum 500 people.
Last year Snap hired 2000 people.
Meta and Twitter have also made the same announcement about the future hiring.
The main reason for such decisions is sharp rise in inflation.
Snap shares were trading 32% lower.
Meta shares were 9% down.
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