US Stock Market Move | Suffered two defeats within a week, Meta Platforms (META.US) dropped more than 3.4%.

On Thursday, the stock price of Meta Platforms (META.US) plummeted, with the stock falling over 3.4% to $574.3 at the time of writing. Alphabet (GOOG.US, GOOGL.US) also fell by over 1.3%. In a landmark ruling, a US jury has determined that Meta and Alphabet's Alphabet Inc. Class C must pay compensation to a 20-year-old woman. The woman claimed that her addiction to social media triggered a mental health crisis. This outcome could signal significant risks for both companies as they face thousands of similar lawsuits. This week, Meta has suffered its second defeat. On Tuesday, in a case in New Mexico, a jury found that the company misled local teenagers about the safety of Facebook and Instagram, despite knowing that they had become breeding grounds for sexual predators, and imposed a $375 million civil fine.