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Facebook and Google stocks dive on fears of competition probe

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Investors flee from risk as it emerges large tech firms are facing greater competition scrutiny in the United States.

Tech stocks had already been feeling pain over worries about the effects of the US-China trade warShares in Facebook and Google's parent were among tech stocks to be bruised on growing investor fears of US investigations into whether they misuse their market power.

Facebook lost 7.5% of its market value by the close of trading on Monday while Alphabet was more than 6% off on reports the government was to launch a so-called antitrust inquiry.The tech-heavy Nasdaq later confirmed it had entered correction territory - falling more than 10% since its April peak in a sell-off mostly linked to the continuing US-China trade war.

There was no official confirmation of this or whether any of the companies were actually facing such a probe.

 

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Proper order, Trump has brought this on with the sanctions. Thanks Donald 😜

Good. Too big for their britches.

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Fonte: The Guardian - 🏆 84. / 53 Leggi di più »