Facebook Up 2%, Trying to Tackle Fake News

Facebook is up more than 2% after some employees reportedly have formed an unofficial task force to address the way it deals with fake news in the wake of the US presidential election results. Although CEO Mark Zuckerberg discounted the amount of fake news on Facebook, sources told the Guardian the company has taken this very seriously and has been looking into it for months.

According to Gizmodo, Facebook executives have been reviewing its products to eliminate the appearance of political bias. One source said high-ranking officials were briefed on a planned news feed update that would have identified fake or hoax news stories but it disproportionately impacted rightwing news sites. The update was consequently shelved, Gizmodo claims, although Facebook denies it.

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