Facebook shares slide after reports of data misuse – yahoo

Facebook Inc’s shares fell more than 4 percent in premarket trading after media reports that a political consultancy that worked on President Donald Trump’s campaign gained inappropriate access to data on 50 million Facebook users.

The move would knock $23.8 billion off the social network’s market value of $538 billion as of Friday’s close and shares in other social media companies including Twitter Inc and Snap Inc also dipped in early deals in New York.

via Facebook shares slide after reports of data misuse