Confirmation that the Feds have opened an antitrust probe into Amazon AMZN, +0.45% Google parent Alphabet GOOGL, +0.78% Apple AAPL, +0.78% and Facebook FB, +0.02% is knocking those popular names, and setting Wall Street up for a bumpy ride Wednesday. Note Facebook results are due after the close, with Amazon reporting Thursday.It’s been a big year for growth stocks — newer companies that offer the chance for big gains, but with elevated risk — with many big tech names falling into that category.
Value stocks have indeed been underperforming, amid growth-stock fever. “The swing of that is that if [value stock] prices are down or lagging, that means their yields are going to be elevated. The market Nasdaq NQU19, -0.34% futures are leading the way lower, with those for the Dow YMU19, -0.34% and S&P 500 ESU19, -0.21% also under pressure.
European stocks SXXP, -0.06% are sagging after weak data and heavy losses for Deutsche Bank’s DB, +1.92% which reported a $3.5 billion loss. Asia markets ADOW, +0.23% were mixed. The Markit manufacturing and services purchasing managers indexes will be released after the open, followed by new home sales.
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