Details as Meta Battles Stock Prices Fall
Meta, the parent company of popular social media platforms Facebook and Instagram, saw a significant drop in its stock prices by approximately 1.55 percent after reports emerged of widespread outages affecting its services.
The disruptions, which began around 10:20 am ET, impacted not only the apps but also the websites of these platforms, causing widespread concern among users worldwide.
The stock market reacted quickly to the news, with Meta’s shares experiencing a 1.55 percent decline by Tuesday morning. The situation remains fluid, with share prices showing signs of volatility in response to the ongoing outages.
According to DownDetector, a website that tracks online service interruptions, the outages have affected hundreds of thousands of Facebook users in the United States, along with tens of thousands of Instagram users. The outage reports are not limited to the US; users from the UK, parts of Europe, China, Australia, and Mexico have also reported issues accessing the services.
Users of Facebook and Messenger reported being unexpectedly logged out of their accounts and facing difficulties logging back in, even with the correct credentials. Instagram users encountered error messages when attempting to access their News Feeds.
In light of the outages, Elon Musk, the billionaire owner of X (formerly Twitter), took the opportunity to comment on the situation humorously. Musk tweeted about the reliability of X’s servers in contrast to Meta’s ongoing issues and shared a tweet from a Meta spokesperson acknowledging the service disruptions and the company’s efforts to resolve them.
The outages have also caused frustration among Nigerian users, who reported being unable to access the platforms. The issue is not just limited to being logged out; users also encountered error messages indicating incorrect passwords on Facebook and a failure to load pages on Instagram.
As discussions about the outage spread across social media, users of X checked to see if it was affected but found it to be operational, much to their relief. This recent incident highlights