More than $50 billion has been wiped off the market value of Facebook today after reports of global outages affecting its website, as well as Instagram and WhatsApp.

The company’s chief technology officer had to post his sincere apologies on Twitter for what is being described as networking issues.

Its servers went down around 2:30am AEDT, affecting its operations and its sister platforms, Instagram and WhatsApp.

The company has an estimated 2.8 billion active users, but Facebook has not said how many were affected, what caused the issue or whether users’ data was at risk.

In a statement released the first hour after the outage, the spokesperson apologised and said the company was working to resolve the issue.

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