Slumps to continue at Netflix and Facebook owner Meta

Netflix’s growth has slowed more than Wall Street forecast amid mounting competition for viewers.

Facebook owner Meta and Netflix may have a hard time turning around the slumps that have wiped more than a third off their market value this year, as ongoing business headwinds and a weak macroeconomic backdrop keep investors at bay. 

The two internet giants were among the most high-profile disappointments of the last earnings season, with slowing growth at both companies sparking sell-offs that erased hundreds of billions of dollars in value.