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Mistrust has become the narrative, says Ken Auletta, New Yorker Magazine, talking about the fallout from Facebook's data breach, and providing insight to online privacy issues and disrupting current advertising models.
CNBC's Dominic Chu reports Facebook's turmoil is creating a tough week for top tech names.
"I don't know if their folks are bragging that they were doing things that they weren't. Maybe they were doing things, I don't know," he said of Cambridge Analytica.
"The entire company is outraged we were deceived. We are committed to vigorously enforcing our policies."
Cambridge Analytica, which markets itself as providing consumer research, targeted advertising and over data-related services, deceptively obtained data from Facebook users.
Twitter shares were down 10 percent midday Tuesday, Facebook fell nearly 6 percent, and Snap shares were 4 percent lower.
Orbitz identified a security breach that may have exposed the personal information of people who made purchases between Jan. 1, 2016 and Dec. 22, 2017.
Carolyn Everson, Facebook's vice president of marketing, says that the company is "outraged and beyond disturbed" that the firm Cambridge Analytica misused the data of 50 million people.
Tech insiders, lawmakers and even Facebook employees have called for input from Facebook's highest executives.
The probes follow a weekend of turmoil for Facebook after reports that Cambridge Analytica gained access to the data of more than 50 million users.
Leaders of the Senate intelligence committee are launching an effort to protect U.S. elections from a repeat episode of foreign interference.
CNBC's Julia Boorstin reports on Facebook's response to the Cambridge Analytica scandal as the social media giant struggles with the fallout from the data breach.
Chris Clearfield, "Meltdown" author and former derivatives trader, talks about recent high-profile security breaches and what companies can do to shore up their online security.
Information Commissioner Elizabeth Denham said Monday the ICO would apply to the court system to pursue a warrant to access Cambridge Analytica’s servers.
"Squawk Box's" Joe Kernen compares Facebook's valuation to other large cap stocks.
"Technology is the differentiator for this cycle, which means the market has to be led by tech," says Andrew Garthwaite, Credit Suisse's head of global equity strategy.
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