Facebook was the worst-performing stock in the S&P 500 on Monday, posting its biggest one-day decline since March 2014. This followed reports over the weekend that political analytics firm Cambridge Analytica was able to collect data on 50 million people's profiles without their consent.
The London-based company worked on Facebook ads with the Trump campaign, providing details on American voters.
Facebook has come under fire for its role in the scandal and has been accused of mishandling users' data.
"It certainly introduces a level of uncertainty that we haven't seen with Facebook before," Heath Terry, lead internet research analyst at Goldman Sachs, told CNBC on Tuesday.
"That's going to be the same here for Facebook. It's going to be how they manage through this that will ultimately determine their long-term future," Terry said.