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Mark Zuckerberg's loss of $15.8bn is equal to the total wealth of the world's 81st-richest person.

Mark Zuckerberg did his best in the earnings call to try to spin this decline as something positive for investors-as if making less money was an active choice the company was pursuing to benefit consumers, rather than a side-effect of everything it's being forced to do in the face of growing public concerns. Quarter after quarter, Facebook handily beat sales and profit estimates by Wall Street analysts.

Some blame the Cambridge Analytica scandal - that political data company that gained access to 50 million users' information, resulting in Zuckerberg testifying before Congress.

Facebook on Wednesday reported second-quarter sales and user growth that fell short of analysts' projections.

Wall Street didn't take too kindly to that: Facebook's stock price dropped almost 20 percent in after-hours trading.

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Sessions, meanwhile, said in Boston on Thursday that Rosenstein is capable and that he enjoys Sessions' "highest confidence". Mark Meadows of North Carolina, chairman of the conservative House Freedom Caucus, and Rep.

Although Facebook shares were in a slump after the Cambridge Analytica scandal broke earlier this year, the stock had risen sharply and hit record levels this month.

For Facebook, financial stumbles are rare.

"Although the Facebook platform is beginning to see slowing growth, the company's other products are still seeing dramatic growth", says Michael Pachter of Wedbush.

Windsor added that Facebook is forced to hire more people to handle tasks such as filtering inappropriate content after discovering the limits of artificial intelligence.

Facebook didn't respond to a request for comment. Monthly active users rose 11 percent to 2.23 billion - below most estimates of 2.25 billion. On a conference call with analysts, Zuckerberg chalked the decline up to the implementation of the EU's General Data Protection Regulation, or GDPR.

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Those affected economies have in turn targeted US agricultural products, including soybeans, dairy, meat, produce and liquor. The biggest exporter of American-made cars is a German company - BMW, through its plant in Spartanburg, South Carolina.

The company also said that revenue growth from emerging markets and the company's Instagram app, which has been less affected by privacy concerns, would not be enough to fix the damage.

"GDPR was an important moment for our industry", Zuckerberg said on Wednesday. "This is our responsibility to keep people safe".

Second, the company is placing more emphasis on Stories, the packages of posts and photos users can share with their friends that generally disappear after 24 hours.

Facebook just made the wrong type of history.

"The Teflon has been scratched away", said Bob O'Donnell, head of Technalysis Research. The company is also rapidly expanding its real estate around the world to accommodate a hiring spree, which includes thousands of new workers to help combat foreign election manipulation on the site.

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Special Counsel Robert Mueller is investigating potential collusion between Russian Federation and Trump's campaign. FILE - Carter Page , a former foreign policy adviser of U.S.

Facebook said the slowdown would come in part from a new approach to privacy and security, but also appeared to acknowledge the limits of growth in advertising, which accounts for virtually all its revenue.