FILE PHOTO: The logo of Apple company is seen outside an Apple store in Paris, France, April 10, 2019. REUTERS/Christian Hartmann
Shares of Apple Inc were down nearly 3% in afternoon trading on Mon following a Reuters report that the U.S. Dept of Justice was given jurisdiction to include the iPhone maker as part of broader antitrust probe.Regulatory risks have weighed on other members of the so called FAANG group of momentum stocks; Facebook Inc is down 6.9%, Amazon.com off 4.4%, Google parent Alphabet Inc sliding 6.4%.Communications services and tech sectors were the heaviest drag on the S&P 500, down 2.7% and 1.
Governments always seem surprised when when trickle down doesn’t happen. The mature state of any market, left to it own devices, is monopoly or duopoly state. Yet free market ideology continues to favour big business and the wealthy, and stifles competition
Is Adobe included in this probe? 🤔