You are using an older browser version. Please use a supported version for the best MSN experience.

Facebook Live Updates: Company Faces Grilling in Congress After Worldwide Outage, Stock Market Tech Shares Slide

Newsweek logo Newsweek 10/5/2021 Ewan Quayle
Facebook faces a grilling from an ex-employee in Congress on Tuesday, October 5 © Justin Sullivan/Douglass Rissing/Getty Images Facebook faces a grilling from an ex-employee in Congress on Tuesday, October 5

Facebook is facing damaging testimony from an ex-employee in Congress today after the former data scientist revealed shocking insights into the company's alleged complacency surrounding misinformation and harmful content.

Frances Haugen is set to testify to the Senate Commerce subcommittee later today, adding to the serious disruption caused by her bombshell interview on 60 Minutes and a worldwide outage of the company's services for several hours yesterday, including Messenger, Instagram, and Whatsapp.

Facebook is also attempting to head off a renewed legal challenge by the Federal Trade Commission, which alleges that the social media giant favors a "buy or bury" strategy to suppress competition.

Follow Newsweek's liveblog for all the latest updates...

Big tech woes are causing a stock market stumble as Facebook's share price drops 4.89 percent following the major outage of the social media giant's platforms yesterday.

It is understood CEO Mark Zuckerberg's personal wealth also took a significant hit yesterday, wiping several billion dollars off his fortune and dropping a place in the 'world's richest people' league table.

Facebook is preparing for yet more disruption today as former senior employee Frances Haugen is set to testify before Congress at a hearing later.

Follow Newsweek's liveblog throughout Tuesday for all the latest.

Start your unlimited Newsweek trial


More from Newsweek

image beaconimage beaconimage beacon