By CCN: The Trump administration’s trifecta of antitrust investigations of Silicon Valley tech giants triggered a mass selloff of FANG stocks on Monday. Notably, Facebook stock got hammered amid revelations that the Federal Trade Commission launched an antitrust probe to determine if it engages in monopolistic practices. Similarly, Facebook’s FANG cohorts — Google and Apple — got crushed after news broke that the DOJ is also preparing antitrust investigations of them, CNBC reported. Shares of Alphabet (the parent company of Google) plunged 6.1%, while Apple fell a modest 1.1%. Facebook’s Trading Volume Is 3 Times Higher than Average However, the
The post FANG Bloodbath: Facebook and Google Plunge Amid Antitrust Probes appeared first on CCN
* First published on ccn.com
