Facebook stock closed down 2.5% on Tuesday after falling as much as 6% in intraday trading. Facebook suspended Cambridge Analytica, but the ensuing controversy has seriously hurt the brands of both companies. Facebook says the user data in question was initially properly gathered by a psychology professor, who then passed it to Cambridge Analytica. Cambridge Analytica says it deleted all the data in 2015 when it learned that Facebook rules had been broken. Related: What you need to know about Facebook's data debacleThe European Union parliament has also said it will investigate Cambridge Analytica and Facebook.

Source: CNN March 20, 2018 12:07 UTC