Facebook-the social media giant experienced a slump in its stock price-plummeting over 5% following its services including WhatsApp and Instagram went down worldwide.

As per the official figures, the stock price of the US-based social network company was trading at $325 per share at 3.55 pm EDT shortly before the closing bell on the Nasdaq as a result of going down 5.25% from the closing price of $343.01 a share on Friday.

The company lost around $50.7 billion in its market value which was standing at $915.1 billion at the time. The market value on Friday was $965.8 billion.

As reported by Forbes’ Real-Time Billionaires List in which Facebook co-founder and CEO Mark Zuckerberg stands at the 6th position, Zuckerberg saw a decline of $6.1 billion in his net worth – a drop of 5%, to $116.5 billion on Monday.

Based on data provided by DownDetector, Facebook, Instagram and WhatsApp went down throughout the world. Almost 124,000, 97,000 and more than 33,000 outages have been reported on Facebook, Instagram, and WhatsApp respectively.

Facebook spokesman Andy Stone tweeted, “We’re aware that some people are having trouble accessing our apps and products,” “We’re working to get things back to normal as quickly as possible, and we apologize for any inconvenience.”

WhatsApp posted on Twitter that it is “aware that some people are experiencing issues with” the application “at the moment”.

The company added, “We’re working to get things back to normal and will send an update here as soon as possible. Thanks for your patience!”

The reason behind the outage is not disclosed yet.

The story was filed by the News Desk.
The Desk can be reached at info@thecorrespondent.com.pk.

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