(Reuters) — Facebook shares sank on Wednesday as concerns about its ability to safeguard user data sparked a government lawsuit, criticism in the U.S. Congress and a New York Times report on how it had shared data with other companies.

The stock of the world’s largest social media company fell 7.25 percent, its biggest intraday drop since July, taking losses for the year to about 24 percent. Investors are concerned about snowballing legal and regulatory

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