Stocks Finish Off Session Lows After Snap Tumbles

Ritika Gupta discusses the day's market movers, highlighting a down day for U.S. stocks with the S&P 500 closing slightly lower and the NASDAQ 100 underperforming due to heavyweights like Tesla and Apple. Snap's significant drop and warning about ad revenues impacted social media stocks, wiping off over $160 billion in market value. Despite investor surprise, social media stocks have been underperforming year-to-date. The discussion also touches on the historical context, comparing current levels to pre-pandemic times and the impact of reopening on advertising revenues.

Discuss the implications of lower consumer demand on advertising spending as mentioned in the text.

What changes occurred in investor sentiment regarding social media stocks from the start of the year to the current situation?