Facebook’s stock has plummeted as markets have opened, as the world reacts to the huge “data breach” scandal that broke over the weekend. The drop of roughly 5 per cent means that around $25 billion has been lost from the company’s market value.
The company’s plunging share price comes amid growing controversy around whether the site was being used by data firm Cambridge Analytica to collect information about citizens and change their voting habits. Over the weekend, a whistleblower revealed the full extent of that tracking – putting both his data firm and Facebook itself under scrutiny.
Read about the latest news from Facebook data breach which wiped of $25 billion in market value on The Independent.