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Facebook Tumbles After FTC Opens Competition Probe

Courtesy of ZeroHedge. View original post here.

Following the first report about the Trump Administration's looming war with Silicon Valley – a late Friday report from WSJ about the DoJ opening an anti-trust probe into GoogleWSJ's latest follow up on Monday is a report that the FTC is preparing to open a similar investigation into Facebook.

The news sent Facebook shares down more than 7% in midday trade, wiping $5 billion off CEO Mark Zuckerberg's net worth in minutes.

FB

It's the biggest drop in FB shares since December.

Earlier, the Washington Post published more details about the incipient anti-trust push when it revealed that the FTC would lead an anti-trust probe into Amazon, as the FTC and DoJ divide up the anti-trust push on a company-by-company basis. 


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