Companies are threatened with billions of dollars in fines or forced separation
Shares of the largest U.S. companies fell after the release of information about the investigation of the U.S. Department of justice. Writes about this edition of The Bell.
Most of all fell the shares of Facebook — by 7.51%, their value by the close of trading on the Nasdaq was $164,15. Shares of the holding Alphabet, which belongs to Google, fell by 6.12% to $1 038,74, which was the minimum since the beginning of January 2019. The third victim was the company Amazon, its shares fell by 4.64% to $1 692,69.
Also, the quotes declined other major participants. In particular, Microsoft shares fell 3.1% to $119,84 and Apple by 1.01% to $173,3.
This happened amid reports that the U.S. justice Department preparing antitrust investigation against Google. It also became known that the US authorities decided to check, has not violated any antitrust laws Amazon, Apple and Facebook. Powers in the course of the investigation will be divided between the Federal trade Commission to take under the supervision of Amazon and Facebook, and the Ministry of justice, which will deal with Apple and Google.
Simultaneously, on the beginning of own investigation declared Democrats in the House of representatives of the Congress of the United States. They intend to check the activities of those same companies — Amazon, Apple, Facebook and Google, and other tech giants, to determine whether these companies are too large and influential, thereby threatening fair competition and the interests of consumers.
Congressman David Ciciline said, this investigation is not directed against any specific companies, the authorities want to study the work of the entire industry.
Thus, if companies are found guilty, they face billions of dollars in fines or division into several independent companies. The last sentence is in the presidential program, one of the leaders of the Democratic party Senator Elizabeth Warren.