failed within three days of each other. that led credit for moody s to downgrade its outlook for the entire u.s. banking sector. and those worries skyrocketed today because of troubles facing the global investment company credit suisse. the saudi bank failed to rule out giving funding to the already embattled company that combined with the recent u.s. issue sent stocks falling. i want to bring in business reporter rahel solomon, rahel, walk us through what happened today. well, jake, basically the mood for investors, as investors search for the next sign of weakness. to be clear, i think the nasdaq actually closed slightly higher which is interesting. but this is really just a confidence issue at this point. you can see that reflected very clearly in some of the bank stocks. i want to point your attention to some of the regional stocks, jake, you and i have talked about already. first republic bank off 21%, pac-west off 5% on top of the losses. it s been a rough go for some
and teen s mental health. according to the centers for disease control and prevention, suicide was the second leading cause of death for youth between ages of 10 and 14 in 2020. nick watt joins us now. this is not the first school district to target social media companies. reporter: jake, it s not the first and it won t be the last. seattle already filed. there are a bunch of districts in california that are now in the process. you know, lawyers for the san mateo school district are likening big tech to big tobacco, claiming that these tech companies in pursuit of profit, are knowingly creating this unprecedented mental health crisis, which is a feature, not a bug, of their social media products. defendants purposefully designed their platforms to be addictive and to deliver harmful content to youth. now, i spoke to the san mateo su su superi superintendent. take a listen. we re sending more students
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more than a third of the world s population are active users of facebook and its other social media products. it s an astonishing figure and the global tech giant has been facing serious allegations about its impact on society. a former facebook manager turned whistleblower has told a committee of mps that platforms like facebook are literally subsidising hate and unquestionably are making hate worse. here s our technology correspondent, rory cellan jones. facebook, a corporate giant used by 2.9 billion people, an empire which includes instagram, whatsapp and the virtual reality business 0culus. but now that empire stands accused of putting profits before people. frances, we re delighted you ve been able to make this trip to be in london and give evidence to us. at westminster this afternoon, francis haugen, the whistle blower who s made that charge, told mps and peers what she learned inside the company. she said events like january s storming of the us congress were made more lik
more than a third of the world s population are active users of facebook and its other social media products. it s an astonishing figure and the global tech giant has been facing serious allegations about its impact on society. a former facebook manager turned whistleblower has told a committee of mps that platforms like facebook are literally subsidising hate . rory cellan jones reports. facebook, a corporate giant used by 2.9 billion people, an empire which includes instagram, whatsapp and the virtual reality business 0culus. but now that empire stands accused of putting profits before people. frances, we re delighted you ve been able to make this trip to be in london and give evidence to us. at westminster this afternoon, francis haugen, the whistle blower who s made that charge, told mps and peers what she learned inside the company. she said events like january s storming of the us congress