Facebook’s Bad Day Just Keeps Getting Worse
If you are wondering why your Facebook account is down, here is what is currently going on:
Facebook Inc. services experienced widespread outages Monday morning, adding to the social network’s miserable day.
Facebook FB, -4.88% shares dropped as much as 6% to an intraday low of $323, which would be their worst single day decline since a 6.3% fall logged on Oct. 30, 2020. The stock outpaced a 1.5% loss on the S&P 500 index SPX, -1.30%and a 2.3% loss on the tech-heavy Nasdaq Composite Index. COMP, -2.14%
The decline followed a national broadcast of a whistleblower’s allegations that the social media network placed profits before safety. Late Sunday, ViacomCBS Inc.’s VIAC, -1.97% news program “60 Minutes” interviewed former Facebook data scientist Frances Haugen, who alleges that the social-media giant has been deceiving investors about how it has been dealing with hate speech and misinformation on its platform.
Haugen provided thousands of pages of documents to The Wall Street Journal, which formed the basis of the publication’s The Facebook Files series. Haugen is scheduled to testify before Congress on Tuesday morning and is also seeking whistleblower protection in complaints filed with the Securities and Exchange Commission.
Adding to all of that was a widespread outage of Facebook services, including Instagram and WhatsApp, that started just before noon Eastern time. Even the status dashboard Facebook uses to communicate its availability to developers was not working Monday.
Market Watch
You can read more at the link, but I also read reports that Facebook employees were having a hard time getting into their offices because the security system used to scan cards for access was down as well.
