The stock market has reacted badly to reports in The Wall Street Journal that two of the nation’s largest technology companies—Facebook and Google—are likely to face intensifying antitrust scrutiny from federal regulators in the United States.
As I write this on Monday afternoon, Facebook stock is down 7 percent, while Google stock is down 6.5 percent. The S&P 500 index of large stocks is down less than 1 percent.
An unusual legal arrangement gives the Justice Department and the Federal Trade Commission joint responsibility for antitrust enforcement. The two agencies negotiate to decide which one will represent the government in any particular inquiry.
- Google Assistant’s “Tell Me a Story” Feature Comes to Phones
- Google Earth Timelapse Now Available for Mobile and It’s Awesome
- Trump administration puts offshore drilling expansion in Arctic, Atlantic on ice
- Yo, Here is the Pixel 3a in Somewhat, Sort of, Barely, or Almost Purple
- After White House stop, Twitter CEO calls congresswoman about death threats