Investors were reassured by Zuckerberg’s performance on Tuesday. Facebook shares jumped as Zuckerberg spoke to the senators, closing up 4.5 percent in New York trading. Facebook fell less than 1 percent Wednesday as Zuckerberg was questioned by the House panel.
At the Senate hearing, Zuckerberg said he was willing to consider new restrictions, and agreed to send suggestions to Congress. Senators signaled they may move to rein in Facebook, which has thrived as part of an online industry that’s largely escaped regulation.
"Your user agreement sucks,” Senator John Kennedy, a Louisiana Republican, told Zuckerberg. “I don’t want to vote to have to regulate Facebook, but by God I will.”
Several Democratic senators called for regulation to protect users’ privacy, and to require more disclosure for online political campaign ads.
Facebook has disclosed that posts from a Russian company known for pushing Kremlin propaganda had reached the news feeds of 126 million users.
This article was provided by Bloomberg News.