Tech shares plunge amid data scandal

Privacy problems raise concerns over third-party use of information

Share prices of Chinese technology firms plunged on Tuesday following reports that a UK-based political research organization had harvested information from 50 million Facebook profiles without user consent.

E-commerce giant Alibaba Group Holding Ltd saw its share prices drop by 2.87 percent on the New York Stock Exchange on Monday, while JD fell by 1.82 percent on the Nasdaq stock market. Shares of search major Baidu Inc also fell by 3.64 percent.