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WPP shares tank after guidance cut due to weak business momentum, macro uncertainty (WPP:NYSE)

The renovated Amsteldok building, base of multinational advertising and marketing services group WPP

Milos Ruzicka/iStock Editorial via Getty Images

Shares in WPP (NYSE:WPP) fell nearly 16% in premarket trading on Wednesday after the UK-based advertising company cut its forecast, as it expects continued macro uncertainty weighing on client spend and weaker net new business than originally anticipated.

The company said

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