Facebook's value drops almost $50 billion in 2 days (FB)

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Markets Insider

• Facebook had its sharpest two-day decline since September of 2012, down 9.5%. That wiped out $49.6 billion off the company's market cap. 

• The FTC is investigating the social media platform's use of personal data. 

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Shares of Facebook finished Tuesday down 2.9%, following a report the Federal Trade Commission is probing the company's use of personal data.

The FTC is looking into whether the social media giant "violated terms of a consent decree over its use of personal data," Bloomberg says, citing a person familiar with the matter. 

Shares came under significant pressure Monday, falling as much as 8.1%, its biggest decline in two and a half years, on the news that Cambridge Analytica accessed data from 50 million Facebook without the users' permission.

Facebook ended up down 9.5% over the two days, effectively wiping $49.6 billion off the company's market capitalization. 

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