FB26 Jul 2018 17:45
Ha, just read this
Facebook has recorded the biggest fall in corporate history as its value plunged by $120bn, when markets opened in New York.
Facebook shares dived nearly 20% as markets opened after the social media giant warned it expects weaker growth.
The warning, which came during a conference call for its second-quarter results after markets closed on Wednesday, sparked a share sell-off and drop of 24% in after-hours trading.
The company had warned investors to expect a surge in costs due to efforts needed to address concerns about the Cambridge Analytica scandal and Facebook's inadequate handling of users' privacy.
Facebook also said it expects slower user growth, partly due to the effect of the data privacy scandals.