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Facebook shares fell by more than 8% on Monday following a Wall Street Journal publication that the FTC would be able to examine the effect of Facebook's practices on the digital competition.
The actions of other tech giants have taken a hit on similar concerns. Amazon shares were down more than 4% on Monday following a Washington Post report that major US anti-trust enforcement agencies have reached a new deal on technical monitoring. The decline has reduced approximately $ 35 billion of its market capitalization to $ 839 billion.
And the shares of the parent company Google, Alphabet, have lost more than 6% after the Wall Street Journal reported Friday that the Justice Department is preparing an antitrust investigation. The stock has lost about $ 47 billion of its market capitalization, bringing it to about $ 721 billion.
Facebook's decline has cut more than $ 33 billion from its market capitalization, bringing it to about $ 472 billion. The FTC has already opened an investigation into the processing of user data by Facebook and has announced a fine of up to $ 5 billion.
Antitrust regulations have remained a distant threat in recent years, as scandals such as Cambridge Analytica have exposed the scale of technological power. In the run-up to the 2020 presidential election, "breaking advanced technology" has become a rallying cry for some, the Democratic presidential candidate, Senator Elizabeth Warren, D-Mass.
But a new agreement announced between the Federal Trade Commission and the Ministry of Justice brings this threat closer to reality. The FTC will take the lead in Amazon's surveillance, according to which the DOJ will have greater jurisdiction over Google, according to the Post. The FTC has previously closed a Google survey without taking any action, but the DOJ will now look at Google's research practices and other areas, according to the newspaper.
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Look: Google's DOJ antitrust probe is going to affect other technology players, analyst says
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