Business Standard

$60-bn loss: How Facebook got unfriended by Wall Steet, Washington and EU

Facebook has struggled to respond to the fast-moving imbroglio, and even Facebook workers have been in the dark

Mark Zuckerberg
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Mark Zuckerberg

Brandon Kochkodin | Bloomberg
The company on Tuesday was beset on two continents by governments suddenly focused on data security and investors unliked its stock to the point that it lost $60 billion in value.

The Menlo Park, California, company, whose social network is a ubiquitous venue for social and political life, is drawing the unaccustomed unwelcome attention after the disclosure that it released the personal data of 50 million users to an analytics firm that helped elect President Donald Trump. The company, Cambridge Analytica, has been implicated in dirty tricks in elections around the globe.

Facebook has struggled to respond to the fast-moving imbroglio,

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