Facebook Inc Chief Executive Mark Zuckerberg’s fortune took a more than $15 billion hit on Thursday, as the social media company suffered the biggest one-day wipeout in U.S. stock market history a day after executives forecast years of lower profit margins. At least 16 brokerages cut their price targets on Facebook after Chief Financial Officer David Wehner startled an otherwise routine call with analysts by saying the company faced a multi-year squeeze on its business margins.

That “bombshell,” as one analyst termed it, played into concerns on Wall Street that Facebook’s model could be under threat after a year dominated by efforts to head off concerns over privacy and its role in global news flow. Shares closed down almost 19 percent at $176.26, wiping more than $120 billion off the company’s value or nearly four times the entire market capitalization of Twitter Inc (TWTR.N). Slowing revenue growth initially pulled the stock down nearly 9 in after-hours trading on Wednesday ...

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