Commentary

Facebook's bad day: Blip or beginning of the end?

Facebook's shares fell 20 per cent on Thursday and $150 billion was wiped off its market value but it remains the dominant social media player.
Facebook's shares fell 20 per cent on Thursday and $150 billion was wiped off its market value but it remains the dominant social media player.PHOTO: EPA-EFE

For a long time, Facebook seemed invincible.

When the platform turned out to be a key tool for Russian agents trying to meddle in the 2016 US presidential election, some wondered if the tide would start to turn on the social media giant.

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A version of this article appeared in the print edition of The Straits Times on July 28, 2018, with the headline 'Facebook's bad day: Blip or beginning of the end?'. Subscribe