FB Stock News: Meta Platforms Inc dips lower but outperforms NASDAQ during bearish session

 NASDAQ:FB inched lower to start the week but showed some relative strength during the day compared to its other big-tech rivals. Shares of FB fell by 0.52% and closed the trading session at $186.63. It was another bearish session for the US markets as the S&P 500 and NASDAQ both dropped lower as investors await the impending Fed interest rate hike later this week. The Dow Jones managed to push into positive territory at the closing bell but the blue-chip index only managed to gain a single basis point. Oil prices plummeted below $100 per barrel, as the commodities market took a hit following a new COVID-19 lockdown in China that will affect some industries.

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In the ongoing saga between social media and the Russian invasion of Ukraine, Facebook has stepped up its much criticized policy of allowing users to post violence against Russia. The new policy forbids any user to post death threats against President Vladamir Putin or any other head of state. Facebook also clarified that its temporary easing on hate speech is specific only to the citizens of Ukraine that are referring to Russian soldiers. The changes come as the Russian government has banned Instagram and its 80 million users from operating inside the country.

Facebook stock price

In other Facebook news, the former COO and President of Nintendo America, Reggie Fils-Aime, has openly criticized Meta’s upcoming Metaverse. Fils-Aime said that Meta is not an innovative company and that its total Oculus VR headset sales would have just been a good single year of sales for Nintendo. He did go on to say that the Metaverse will be a large part of our lives but questions whether Meta Platforms will be the industry leader.

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