FILE PHOTO: A trader works on the trading floor at the New York Stock Exchange (NYSE) in New York City, U.S., September 3, 2019. REUTERS/Andrew Kelly/File Photo

The tech-heavy Nasdaq Composite traded lower on Monday as Alphabet tumbled about 1% after 50 state attorneys general announced an antitrust probe into Google’s ad business.
The news comes just days after New York Attorney General Letitia James said her office was coordinating a multistate antitrust probe into Facebook.
AT&T’s stock price spiked as much as 5% on Monday after activist hedge fund Elliott Management announced a $3.2 billion stake in the company.
Oil surged to a six-week high after Saudi Arabia’s new Energy Minister signaled OPEC and its allies would continue to lower outputs.
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The Nasdaq Composite, the most tech-heavy of the major US stock indexes, slid on Monday as shares of Alphabet tumbled as much as 1% following the announcement of new antitrust investigation into Google’s ad business.

A coalition of state attorneys general from 49 states and Washington, D.C. announced the probe on Monday and said it will focus on whether Google has used anti-competitive practices in its ads business.

The announcement is the most recent advancement of antitrust scrutiny on large US tech companies. Shares of Facebook sunk last week after New York Attorney …read more


Source:: Businessinsider – Finance

      

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