Facebook shares have fallen 7% overnight, losing more than $38bn, as the company is claimed to be involved in the data privacy scandal surrounding Cambridge Analytica and Donald Trump's Presidential election campaign.
Last weekend, a number of US newspapers reported Facebook was involved in aiding the UK political consultancy to swing elections. Cambridge Analytica is alleged to have mined the personal data of 50 million Facebook users to create profiles and target them in the election campaign. Donald Trump went on to win the US Presidential Elections in 2016. Reports in The New York Times and The Observer said Cambridge Analytica broke Facebook's rules by using data collected solely for research. However, Facebook has been criticised for failing to respond appropriately or contain the fallo...
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