Shares of leading tech giants slide after reports that antitrust regulators are taking steps that could lead to greater oversight.
reported the Justice Department is readying an antitrust investigation. The stock lost about $47 billion from its market cap, bringing it to around $721 billion.
Apple also declined sharply on Monday after Reuters reported the Justice Department has been given jurisdiction to probe the company’s practices as part of a broad review into potential anti-competitive behavior among big tech companies. The stock fell nearly 2 percent following the report, after trading higher earlier in the day. Apple and CEO Tim Cook areAntitrust regulation has remained a distant threat in recent years as scandals like
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