Facebook‘s stock faces worst week in four years

Shares of Facebook fell on Thursday, extending a recent selloff spurred by a controversy over how it handles user data. The stock fell 1% in early trading. Thus far this week, it has shed 10.3%, putting it on track for its biggest weekly percentage drop since March 2014. The social-media giant is down 14% from an all-time high hit earlier this year; it is down 4.9% for 2018. However, it remains up 20.3% over the past 12 months. Facebook has has been enduring a firestorm and stock selloff after data-mining company Cambridge Analytica reportedly used the personal details of 50 million Facebook users without authorization. On Wednesday night, Facebook CEO Mark Zuckerberg apologized for the controversy during an interview with CNN, and said he‘d be willing to testify before Congress. The Dow Jones Industrial Average fell 1.1% while the S&P 500 was down 0.9% and the Nasdaq Composite Index shed 1%.