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Facebook stock drops on unearthed Zuckerberg emails

Business Insider logo Business Insider 6/12/2019 Rebecca Ungarino

Facebook shares tumbled by as much as 2.9% in midday trading Wednesday before closing 1.7% lower as traders assessed a Wall Street Journal report that described what could be a connection between chief executive Mark Zuckerberg and questionable privacy practices.

The social network has uncovered emails that appear to show Zuckerberg was aware of "potentially problematic privacy practices" at Facebook, the WSJ reported, citing people familiar with the matter.

The emails were reportedly uncovered in response to a Federal Trade Commission probe. The emails could possibly throw Zuckerberg's commitment to user privacy into question, the WSJ said. 

Facebook has fallen under intense scrutiny in the past year amid a string of scandals related to how the tech giant handles its users' data. The company did not immediately respond to Business Insider's request for comment.

The move Wednesday comes a week after regulatory concerns slammed Facebook and the broader technology space. The FTC would oversee any antitrust probe into whether Facebook's practices have hurt competition in the digital market, the WSJ reported last week, sending shares sharply lower.

a screenshot of a social media post© Markets Insider

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