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Facebook's stock falls after HUD charges company with violation Fair Housing Act
By: MarketWatch | March 28, 2019

Shares of Facebook Inc. FB, -0.65% fell 0.9% in premarket trade Thursday, after the social media giant was charged by the U.S. Department of Housing and Urban Development with violating the Fair Housing Act, by "encouraging, enabling and causing housing discrimination" through its advertising platform. HUD's charge follows an investigation of a complaint filed in August 2018. "Facebook is discriminating against people based upon who they are and where they live," said HUD Secretary Ben Carson. "Using a computer to limit a person's housing choices can be just as discriminatory as slamming a door in someone's face." Facebook's stock has rallied 26.5% year to date through Wednesday, while the S&P 500 SPX, -0.46% has climbed 11.9%.

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