Facebook sees $60 billion in market value erased in just 2 days

Facebook sees $60 billion in market value erased in just 2 days as advertisers like Starbucks and PepsiCo halt social-media spending

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• Facebook shares fell roughly 1% on Monday morning as more advertisers announced boycotts of its platform. The drop followed an 8.3% slide on Friday amid the first round of pulled advertising.
• The two-day stock decline resulted in roughly $60 billion being erased from Facebook's market value.
• Starbucks, PepsiCo, Coca-Cola, Unilever, and Verizon have all suspended their advertising on Facebook — and in some cases, on other social media platforms too.
• Daniel Salmon, a BMO Capital Markets analyst, said the boycott wouldn't significantly hurt Facebook's revenue, as it has more than 8 million advertisers.