Swordsmyth
06-03-2019, 06:04 PM
The Trump Administration's long-anticipated anti-trust War on Silicon Valley is starting to look more like a blitzkrieg.
After WSJ (https://www.zerohedge.com/news/2019-06-01/trump-declares-war-silicon-valley-doj-launches-google-anti-monopoly-probe) opened the floodgates by quietly publishing the first report, about an anti-trust probe into Google, late Friday night, reports exposing new details about the anti-monopoly push, which will also encompass Amazon and, now, Facebook, have been dropping like bombs on the market.
According to WSJ (https://www.wsj.com/articles/ftc-to-examine-how-facebook-s-practices-affect-digital-competition-11559576731)'s latest revelation, published around midday New York City time on Monday, the FTC is taking the lead on an anti-trust investigation into Facebook.
The report sent Facebook shares down 9% in midday trade, wiping $6 billion off CEO Mark Zuckerberg's net worth in minutes, showing just how seriously the market is taking the risk that the Trump Administration could do Elizabeth Warren one better by leading the breakup of big tech.
Earlier, the Washington Post published more details about the incipient anti-trust push when it revealed that the FTC also has jurisdiction over an anti-trust probe into Amazon, as the FTC and DoJ divide up the anti-trust push (https://www.zerohedge.com/news/2019-06-03/google-amazon-face-new-pressure-after-revamp-us-antitrust-agencies) not on a company by company, but on an issue-by-issue, basis, as WSJ explained.
The NYT (https://www.zerohedge.com/news/2019-06-03/google-amazon-face-new-pressure-after-revamp-us-antitrust-agencies) also published new details about the DOJ's probe into Google, which will reportedly focus on its advertising and search businesses.
More at: https://www.zerohedge.com/news/2019-06-03/facebook-tumbles-after-ftc-opens-competition-probe
After WSJ (https://www.zerohedge.com/news/2019-06-01/trump-declares-war-silicon-valley-doj-launches-google-anti-monopoly-probe) opened the floodgates by quietly publishing the first report, about an anti-trust probe into Google, late Friday night, reports exposing new details about the anti-monopoly push, which will also encompass Amazon and, now, Facebook, have been dropping like bombs on the market.
According to WSJ (https://www.wsj.com/articles/ftc-to-examine-how-facebook-s-practices-affect-digital-competition-11559576731)'s latest revelation, published around midday New York City time on Monday, the FTC is taking the lead on an anti-trust investigation into Facebook.
The report sent Facebook shares down 9% in midday trade, wiping $6 billion off CEO Mark Zuckerberg's net worth in minutes, showing just how seriously the market is taking the risk that the Trump Administration could do Elizabeth Warren one better by leading the breakup of big tech.
Earlier, the Washington Post published more details about the incipient anti-trust push when it revealed that the FTC also has jurisdiction over an anti-trust probe into Amazon, as the FTC and DoJ divide up the anti-trust push (https://www.zerohedge.com/news/2019-06-03/google-amazon-face-new-pressure-after-revamp-us-antitrust-agencies) not on a company by company, but on an issue-by-issue, basis, as WSJ explained.
The NYT (https://www.zerohedge.com/news/2019-06-03/google-amazon-face-new-pressure-after-revamp-us-antitrust-agencies) also published new details about the DOJ's probe into Google, which will reportedly focus on its advertising and search businesses.
More at: https://www.zerohedge.com/news/2019-06-03/facebook-tumbles-after-ftc-opens-competition-probe