On Monday, Facebook shares plummeted almost 5% after the business had its biggest service outage in about 13 years, and a day after “60 Minutes” broadcast an interview with a whistleblower who accused the corporation of undermining democracy.
The market was generally down on Monday, with the tech-heavy Nasdaq Composite down more than 2%.
The drop was most severe among social media stocks, with Twitter, Snap, and Pinterest all falling more than 5%.
Facebook’s main app, as well as its Instagram and WhatsApp services, went down shortly before noon ET.
They were still unavailable as of market closing.
“We are aware that some individuals are experiencing difficulties accessing our applications and products,” the firm said in a tweet.
“We’re working hard to restore normalcy as soon as possible, and we regret for any inconvenience.”
We’re aware that some people are having trouble accessing our apps and products. We’re working to get things back to normal as quickly as possible, and we apologize for any inconvenience.— Facebook (@Facebook) October 4, 2021
To the huge community of people and businesses around the world who depend on us: we're sorry. We’ve been working hard to restore access to our apps and services and are happy to report they are coming back online now. Thank you for bearing with us.— Facebook (@Facebook) October 4, 2021
The outage is Facebook’s worst since 2008, when a glitch took the company’s services offline for almost a day, affecting around 80 million users.
The firm currently has a total of 3 billion users.
It’s been a difficult week for Facebook, which only got worse on Sunday night.
Frances Haugen revealed herself to be the whistleblower who supplied critical internal corporate documents to the Wall Street Journal in an interview with “60 Minutes.”
The material was utilized in a series of recent publications named “The Facebook Files” by The Wall Street Journal.
Haugen is a former product manager in Facebook’s civic misinformation section who departed the company in May after making copies of several internal files.
Haugen accused Facebook of placing “its own profits ahead of public safety – putting people’s lives in danger.”
Facebook shares fell 4.9 percent to $326.23 at the closing.
This year, the stock is still up 19%.