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It was filed just hours before a brutal Facebook second-quarter earnings update on Wednesday, which sent the firm's share price tumbling almost 24 per cent, wiping as much as $148 billion off its value. Amazon.com fell 2.8 per cent ahead of its own results, which boosted its shares again in after-hours trading.

Meanwhile, other observers think the technology expert may be in over his head when it comes to the many other aspects of his global business.

After all, from what little we know, the kids these days seem to be into Snapchat and Fortnite rather than posting semi-snide comments about the bridesmaid dress your friend has just got for Aunty Edwina's third marriage.

"While those actions might take time to play out, it is still possible that threatened fines associated with GDPR to Facebook or other sellers of advertising could also have the effect of spooking advertisers into changing how they use data", said Wieser, who thinks the shares should be worth $140 United States - well below Thursday's level. "In the mid-term advertisers still believe in Facebook, as do its users".

Describing the announcements as "bombshells", Baird analysts said the issues were to a large degree "self-inflicted" as Facebook sacrifices its core app monetisation to drive usage.

Facebook reported its user base was still growing but not as fast as some expected. Make no doubt, a 42 percent growth figure is still extremely robust, and that is coupled with an 11 percent year-over-year growth in monthly and daily active users.

"This is a direct result of scale as it becomes increasingly hard to grow at such high rates when a company hits this size", Windsor wrote.

Republicans move to impeach deputy attorney general
Mark Meadow , Jim Jordan , and nine others from the so-called Freedom Caucus-all strong allies of President Donald Trump . If the proposal cleared the House, it would need a two-thirds vote in the Senate for Rosenstein to lose his job.

Facebook hammered as user growth cools
Facebook disrupted some business by putting in place new rules to get all political advertisers to verify their identities. In terms of revenue, the tech giant earned $13.23 billion but missed Thomson Reuters' estimates of $13.36 billion.

Gunman and young woman dead, 13 others injured in Toronto shooting
His family said in a statement Monday that he suffered from severe mental health challenges, including depression and psychosis. Choking back tears, Toronto Councillor Mary Fragedakis said to the city council Monday morning, "This is so heartbreaking".

Ben Bajarin, an analyst at Creative Strategies, calls this "new territory" for Facebook.

"Weaknesses in AI are forcing [Facebook] to keep hiring humans to do the jobs that the machines are incapable of", he said. "Our view is that the company is far from out of the woods", Brian Wieser of Pivotal Research said. The decline in Facebook's market value was roughly equivalent to the entire value of some of the country's best-known companies, including McDonald's, Nike and industrial conglomerate 3M.

Chief financial officer David Wehner triggered the selloff when he said sales growth would continue to slow through the rest of the year.

On Wednesday the initial fallout from Cambridge Analytica appeared in Facebook's financial results and forecast and it was a game changer.

"Facebook might have its wings clipped, but it is still a remarkable money-making machine".

It was the details of Facebook's report that seemed to spook investors.

"It's really becoming the crown jewel of Bezos' empire", said GBH Insights analyst Daniel Ives.


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