Facebook parent Meta lost $251 billion of value in the worst wipeout ever. That's more than Netflix, Nike and McDonald's are each worth.

• Facebook parent Meta shed $251 billion of value Thursday, in the biggest one-day market cap drop in history.
• Meta lost more than the entire market capitalization of Netflix, and more than the most valuable company in the UK.

Meta, formerly known as Facebook, lost $251 billion of value on Thursday. It was a record single-day loss for any company in US history.

That's more than Netflix, at $180.1 billion, is worth; it's more than Nike, at $229.8 billion, is worth; and more than McDonald's, at $194.8 billion, is worth.

In fact, it's more than the value of 477 of the 500 companies in the benchmark S&P 500 index, according to Companiesmarketcap.

Meta's stock plunged 26.39% Thursday after disappointing investors with a weak fourth-quarter earnings report. CEO Mark Zuckerberg said the company was facing increased competition from the likes of TikTok.

"The music stopped for Facebook," Edward Moya, senior market analyst at Oanda, said. "The social media giant is in trouble over rising competition, surging metaverse costs, and zero growth."

Read more: Should you buy the Meta dip? 4 experts weigh-in on whether this is a chance to grab shares in the tech giant at a bargain price or to run for the hills as TikTok takes over

The huge wipeout is a stark reminder of the size of the world's biggest tech companies. Meta's market capitalization — the value of all its shares combined — fell from $898 billion to $637 billion Thursday.

Apple's market cap is $2.82 trillion; Microsoft's is $2.26 trillion; and Alphabet's is $1.9 trillion.

Amazon's market cap stood at $1.41 trillion at Thursday's close. But was on track for one of the biggest one-day surges in US history on Friday, in stark contrast to Meta's drop, with its shares up 11% in the pre-market after strong earnings.

Meta's $251 billion loss was bigger than the market capitalizations of all of the companies on the UK's FTSE 100 index. The drugmaker AstraZeneca, number one on the list, is worth $177.7 billion.

No company has ever shed more value in one day on the US stock markets. Apple is second on the list, with a $180 billion loss on 3 September 2020, while Microsoft is third, having lost $178 billion on 16 March 2020, according to Bloomberg.

Zuckerberg's personal fortune, which derives almost entirely from Meta stock, plunged $31 billion, according to the Bloomberg Billionaires Index.

Meta stock was up just 0.18% in pre-market trading.