Alphabet Inc's shares closed 6% down on Monday following reports that the U...
- Alphabet Inc’s shares closed 6% down on Monday following reports that the U.S. Justice Department may investigate Google for hampering competition.
Alphabet’s market capitalization was reduced by $54 billion as its shares recorded their biggest drop outside earnings since April 2011. Facebook Inc closed 7.5% down, while Amazon.com Inc fell about 5%. “For investors, the investigation comes at a time when the stock’s bull case is challenged by concerns of an abrupt revenue slowdown last quarter,” Rippey said.
Along the way, it has made enemies in the tech world, who have complained to law enforcers about its market dominance, and also in Washington, where lawmakers have complained about issues from its alleged political bias to its plans for China.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Alphabet shares slide 7% on possible DoJ antitrust probeAlphabet Inc's shares fell as much as 7% on Monday following reports that t...
Read more »
Alphabet shares drop on possible DOJ investigation—Cramer and other experts on what's nextAlphabet's Google may soon be under investigation by the Department of Justice, and experts are largely taking a wait-and-see approach to the potential probe.
Read more »
Apple dips on news of DoJ antitrust probeShares of Apple Inc were down nearly 3% in afternoon trading on Mon following a ...
Read more »
FTC Gets Jurisdiction for Possible Facebook Antitrust ProbeWhile the Justice Department recently obtained the authority to investigate Alphabet Inc.’s Google, another government agency, the Federal Trade Commission, won jurisdiction over another high-profile player in the tech world: Facebook Inc.
Read more »
Google, Facebook and Apple could face US antitrust probes as regulators divide up tech territoryThe Federal Trade Commission and Department of Justice are said to have divided up oversight of Facebook, Google, Apple and Amazon, paving the way for potential investigations into antitrust violations
Read more »
Big Tech Founders Lose Billions After Government Considers Antitrust ProbeThe net worth of Amazon CEO Jeff Bezos fell the most.
Read more »
U.S. moving toward major antitrust probe of tech giantsThe U.S. government is gearing up to investigate the massive market power of Ama...
Read more »
Democrats open antitrust probe of tech industryBREAKING: House Democrats launched a sweeping antitrust investigation of the nation's largest tech companies, including Google and Facebook
Read more »
House Judiciary Committee launches 'top-to-bottom' antitrust probe of big techThe House Judiciary committee said Monday it is launching a 'top-to-bottom' antitrust investigation of the tech industry, including Amazon, Apple, Facebook and Google.
Read more »
Apple drops on report that Justice Department has jurisdiction over potential antitrust probeChina is the world's leading producer of rare earths, but Beijing's ability to use them as a weapon is fairly limited, according to several analysts.
Read more »
Google Gets Ready for Legal Fight As U.S. Weighs an Antitrust ProbeAs Google cemented its powerful position, the tech giant’s executives said they believed they were helping web users get information and letting publishers and advertisers connect more efficiently. The question is whether U.S. regulators will determine the firm’s efforts squelched competition.
Read more »