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Facebook shares drop 5% after site outage and whistleblower interview


Facebook CEO Mark Zuckerberg addresses the 56th Munich Security Conference held in Munich on February 15, 2020.

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FacebookAfter the firm suffered its worst day, shares plunged almost 5% Monday worst service outage since 2008The interview was aired a day following “60 Minutes,” which aired a conversation with a whistleblower who claimed that the company had committed fraud. betraying democracy

The market was broadly downThe tech-heavy Nasdaq dropped over 2% Monday. Particularly among social media stocks was the sharpest decline Twitter Snap PinterestEach fell by more than 5%.

Facebook’s main site and its Instagram-and WhatsApp apps went offline just before noon ET. As market closed, they remained offline.

According to the company, “We are conscious that some people have difficulty accessing our products and apps.” in a tweetYou can find it here. We apologize for any inconvenience caused.

This outage is the most severe for Facebook’s since 2008. In 2008, Facebook was hit by a bug that took its services offline for approximately a day. It affected around 80 million people. Facebook currently has 3 billion users.

Facebook has had a difficult week, which got even worse on Sunday night.

Frances Haugen talks with 60 Minutes. revealed herselfTo be the whistleblower that provided crucial company documents to The Wall Street Journal. The Journal used this information in several reports recently titled “The Facebook Files.”

Haugen was a former product manger in Facebook’s civil misinformation division. Haugen left Facebook in May after making copies of several internal files. Haugen accused Facebook of prioritizing its “own profits over public safety — putting people’s lives at risk.”

Facebook shares fell 4.9% to $326.23. However, the stock remains up 19% for this year.

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