Facebook slides as more states join New York antitrust probe

The expansion of the investigation deepens the antitrust scrutiny into Facebook at US state and federal levels. — AP

Facebook Inc shares fell the most in two months after a state antitrust investigation into the social-media company widened, with dozens more states joining the probe led by New York.

Facebook dropped after the New York Attorney General Letitia James announced Tuesday that 45 states – plus Guam and the District of Columbia – are investigating whether the company harmed competition. Shares fell 3.3% to US$183.44 (RM769.35) at 3.13pm in New York, the most since Aug 14.