Mar 20, 2018

Facebook shares slip as scrutiny continues

Facebook shares continued to slide on Tuesday, amid ongoing furore concerning the use of data collected by the social network. Facebook is under fire after reports detailing how Cambridge Analytica, which worked with US President Donald Trump on the campaign, acquired and used Facebook's customer information. On Friday, Facebook suspended the consulting firm, saying it had acquired data from a researcher who violated the firm's policies. The scrutiny of Facebook comes after several months of mounting pressure, following allegations that Russia used the social networks to influence the 2016 presidential election. Tuesday's decline came after Facebook shares fell almost 7% on Monday.

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