The Snapchat owner said some advertisers continue to face supply-chain disruptions and labor shortages, and many others are contending with rising costs amid record inflation, which has led to cutbacks in spending on advertising. July 21 (Reuters) - Snap Inc (SNAP.N) on Thursday painted a grim picture of the effects of a weakening economy on social media and declined to make a forecast in "incredibly challenging" conditions, sending its shares down 25% and setting off a chain reaction of stocks among rivals.
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