Facebook shares have dipped by one per cent today as the company suffers the fallout of its move to block all news content in Australia. It comes as Wall Street assesses the wider ramifications of its extraordinary decision to ban users in Australia from accessing news in a row over paying for content. The fall was in line with moves in other major tech shares as Wall Street largely shrugged off outrage around the company's decision to block all news content in Australia. He added: 'Facebook's actions to unfriend Australia today, cutting off essential information services on health and emergency services, were as arrogant as they were disappointing.' When it passes, it will become the first such law requiring tech giants to compensate publishers for hosting their content.

Source: The Nation February 18, 2021 17:10 UTC