Snap shares drop as scrapped forecast stokes ad slowdown fears before Meta earnings

News Snapshot:

Snap SNAP-N shares tumbled more than 15 per cent on Wednesday after the social media company held back its forecast, stoking fears that advertisers were cutting their spending due to tariff-led economic uncertainty. Health of the advertising market will be yet again in focus when Meta Platforms META-Q, which owns ad-reliant platforms like Facebook, reports results after the market closes. The Snapchat parent said it was seeing a slowdown in ad spending in the second quarter and raised doubts about advertising budgets due to tariff impact. Daily average U.S. ad spend by Chinese e-commerce websites Temu and Shein on Facebook,...