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Facebook shares fall 4% after news feed overhaul

Shares of Facebook Inc fell 4 percent on Friday after Chief Executive Mark Zuckerberg announced changes to the platform’s centerpiece news feed, which he said would hit user engagement in the near term. The company will change the filter for the news feed to prioritize what friends and family share, while reducing the amount of non-advertising content from publishers and brands. If the pre-market declines in shares hold, Facebook stands to lose nearly $23 billion from its market capitalization on Friday as a result of the move, Reuters said.