Meta closed down 7%+ and Alphabet closed down 5%+ on Friday, as Snap's weak earnings, inflation, and other factors lead to worries about online advertising (Richard Waters/Financial Times)

Richard Waters / Financial Times:
Meta closed down 7%+ and Alphabet closed down 5%+ on Friday, as Snap's weak earnings, inflation, and other factors lead to worries about online advertising  —  Weak earnings raise fears that inflation and interest rates are starting to hit social media companies