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PayPal nosedived 25% on Q4 earnings results

The US markets continued a rally into Wednesday as investors weighed strong corporate quarterly earnings results against weak economic data. PayPal nosedived nearly 25% on Wednesday in its worst daily performance on record after reporting fourth quarter earnings results including lower earnings than expected and the scrapping of its ambitious growth strategy. A spotlight on Meta as the Facebook parent company plunged 23% in after hours trade following the release of fourth quarter results showing slowed growth and that fell short of market expectations. The FBI has urged Olympic athletes to use temporary burner phones during their time at the Beijing Winter Olympics to avoid data theft, malware and the potential for tracking tools to be installed on their personal devices.