The timing of the global Facebook crash is considered unlikely to be worse, CoinTele Graph commented.
March 5 is often called the Super Tuesday in the US when the Republican Party holds 13 primary elections and 2 closed meetings, while the Democratic Party holds 14 primary elections and 1 closed meeting in Samoa in the US. Meta's social networks, including Facebook, are widely used today.
Reports said that Facebook and Instagram will stop operating starting at around 2:00 p.m. UTC or 10:00 a.m. ET (around 10:00 p.m. on March 5, Vietnam time).
According to Down detector, there were nearly 498,000 reports of Facebook outages, peaking at 15:38 ', UTC time, down to 28,000 reports at 4:53 ', UTC time.
According to Meta's Metastatus website, some business tools, including Ads Manager, Meta Business Suite and Meta Admin Center, along with four of the company's six developer platforms, have been shut down.
Media director Meta Andy Stone posted a notice on X (formerly Twitter) at 4:52 p.m. UTC, saying that the company had grasped the access issues and was working to restore the service. Half an hour later, he announced that the problem had been resolved and apologized for this inconvenience.
Coin graph points out that Facebook's global collapse at this time is not good for Meta's stock price. Meta shares closed at $502.30 on January 1 and reached $504.42 on March 4, an all-time high. Meta shares are trading on Nasdaq (USA) at 490.22 USD at 19:59 on March 5, EST time.
According to Forbes' real-time updated data, the net worth of the billionaire behind Meta, Mark Zuckerberg, has decreased by 1.58%, equivalent to a decrease of 2.8 billion USD. Currently, Meta's owner holds 171.9 billion USD and is the 4th richest person in the world.
Technology stocks generally fell on the day. FAANG (Meta, Amazon, Netflix, Alphabet and Google) all reported a decrease in prices, ranging from nearly 3% for Apple and Netflix to below 1% for Google.
Facebook and Instagram's most recent major shutdown was on October 4, 2021, when these social networks stopped working for 6 hours.
