Facebook falls on report of FTC antitrust investigation

ftc facebook antitrust investigation

The US Federal Trade Commission (FTC) is going to start an anitrust cartel investigation into the internet concern Facebook.

Let the insiders know about the case.

Earlier, sources had reported that the US Department of Justice had started a competition investigation into Google.

The steps taken by the supervisors follow a deal that the judicial authorities and the FTC have concluded.

In addition, the judiciary will take a closer look at Google, while the FTC will take care of Facebook and Amazon.

The US authorities would examine whether the internet giants are guilty of distortion of competition due to their dominant market positions.

Investors on Wall Street were shocked by the news.

The share of Google parent company Alphabet lost 6.6 percent in intermediate trading, Facebook fell 8.8 percent and Amazon fell 4.6 percent.

About Sanjay Mallick 30 Articles
Sanjay joined NOBLE in 2019, but had already built up extensive writing experience at other news outlets before. He has a preference for everything tech as well as gaming, he likes especially RPGs and sports games. In his free time he enjoys cooking for his friends and family.

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