Facebook, Twitter shares drop as firm behind Dove, Ben & Jerry’s pulls ads

Shares of Facebook and Twitter dropped sharply Friday after the the giant company behind brands such as Ben & Jerry’s ice cream and Dove soap said it will halt U.S. advertising on Facebook, Twitter and Instagram through at least the end of the year.

That European consumer-product maker, Unilever, said it took the move to protest the amount of hate speech online. Unilever said the polarized atmosphere in the United States ahead of November’s presidential election placed responsibility on brands to act. Shares of both Facebook and Twitter fell roughly 7% following Unilever’s announcement.

The company, which is based in the Netherlands and Britain, joins a raft of other advertisers pulling back from online platforms.