Meta, Alphabet shares fall after US jury verdicts on social media harm

Facebook-parent Meta Platforms' META.O shares extend losses, down 5.4% at $562.82 in an over 10-month low

A Los Angeles jury on Wednesday found Meta and Alphabet's GOOGL.O Google liable for a young woman's depression and suicidal thoughts after she said she became addicted to the companies' platforms

Companies ordered to pay a combined $6 mln in damages

GOOGL down 1.5% at $286.56

In a separate New Mexico case, a judge on Tuesday ordered Meta to pay $375 mln after finding co misled users about safety of its products for young users and enabled the sexual exploitation of children on its platforms

"The rulings are contributing to the weakness by reinforcing the bear case and giving investors an excuse to de‑risk, but they’re hitting a stock that was already underperforming its megacap peers over the past year" - Adam Sarhan, chief executive of 50 Park Investments

META has fallen 14.7% so far this year, GOOGL has fallen 8.4% YTD