Shares in Snap tumbled yesterday after it ditched its forecasts due to Donald Trump’s trade war.
The social media giant, which owns photo messaging app Snapchat, stoked fears that advertisers are cutting spending because of tariffs.
It comes as a blow to co-founder and chief executive Evan Spiegel and his wife, the Australian model Miranda Kerr, who have a sizeable stake in the firm.
Snap’s share price tanked 12 per cent after it withheld guidance for the second quarter.
Investors were spooked by the social media giant’s warning that it has seen a slowdown in ad spending.
Slump: Snap, led by co-founder and chief exec Evan Spiegel (pictured with wife Miranda Kerr), stoked fears that advertisers are cutting spending because of tariffs
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