IMF sees risks to global growth forecast over sustained Iran war Meta shares fell as a result of Iran closure of Hormuz
ECONEWS – Foreign media have reported a fall in the shares of Meta Platforms as result of Iranian armed forces closure of the Strait of Hormuz which is a reaction to the US and Israeli aggression on the country.
Econews, in a report citing MNA, Meta Platforms Inc., the parent company of social media platforms Facebook, Instagram and WhatsApp, fell as much as 7% in afterhours trading on Wednesday, April 29, CNBC reported.
Meta blamed the war in Iran and a restriction on access to WhatsApp in Russia behind the numbers, according to the report.
Shares of Meta Platforms are down 6.3% afterhours to $627.24. The stock had risen 25% in the last one month and still away from their record high of $796.25.
In the wake of escalating US-Israel military adventurism against Iran, the prospect of the strategic waterway’s closure has jolted financial markets, disrupted energy flows and raised fears of a global economic rupture.
The potential closure of the Strait of Hormuz threatens not merely to raise prices but to destabilize the entire energy system that underpins global trade.
IMF sees risks to global growth forecast over sustained Iran war 
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