The Department of Justice said on July 23 that was launching a broad investigation into market-leading online platforms in search, social media, and e-commerce to determine whether such firms are hampering competition. While it did not specifically name the companies it's investigating, the DOJ made its announcement after a report from The Wall Street Journal indicated that the DOJ and Federal Trade Commission had split jurisdiction over probing Amazon, Facebook, Google, and Apple.
Shares for Amazon, Apple, Google parent Alphabet, and Facebook were tumbling in after hours trading on July 23, wiping away $33 billion between the four companies. Amazon was down 1% following the news on July 23, a $9.8 billion hit to its market capitalization.
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