Meta Platforms (META) shares dropped 3.13% to $670.08 after US Senators unveiled a new bill aimed at preventing scam advertisements across social media platforms, introducing fresh regulatory risk to the company's core digital advertising segment.
- The proposed legislation is expected to increase compliance burdens and pressure Meta's key digital advertising business, particularly within the Family of Apps segment.
- The stock decline was exacerbated by these new regulatory concerns combined with the broader slump observed across the tech sector.