Facebook value drops by $37bn amid privacy backlashFacebook's shares have fallen sharply, wiping $37bn off the firm's value, as it faces questions from US and UK politicians about its privacy rules. Information Commissioner Elizabeth Denham says it will be used to look at the databases and servers used by British data analytics firm Cambridge Analytica. Facebook shares ended trading 6.7% lower at $172.56, wiping almost $37bn off the social network's market value. Cambridge Analytica "strongly denies" the allegations levelled against it. Alexander Nix, chief executive of Cambridge Analytica, was questioned by a Parliamentary committee last month about using data to target messages.

Source: VietNamNet News March 19, 2018 22:52 UTC