Facebook closed down 6%, wiping out more than $30 billion in market value.
The drop erased more than $30 billion from the social media giant's market cap.compared with its total in 2018. The expenses were largely related to the company's privacy and security improvements. That coincides with a drop in the company's operating margin, which fell from 45% in 2018 to 34% in 2019.
In addition to the increased expenses, Facebook also warned of advertising headwinds related to privacy and regulatory changes on the horizon, leading to slowing growth in the U.S. Facebook said privacy improvements on
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