Tech Giants Slide on Regulatory Scrutiny

Tech Giants Slide on Regulatory Scrutiny

Adviser Investments Vice President Josh Jones has the market analysis for Monday, June 3. After news broke of increased antitrust scrutiny by federal regulators on tech titans such as Alphabet (Google), Facebook and Amazon, the tech-heavy NASDAQ Composite index fell 1.6%, putting it 10% below its May all-time high. The Dow Jones Industrial Average ended the day flat while the broader S&P 500 index was off 0.3%. Elsewhere in tech, electric-car maker Tesla’s woes persisted, with the stock continuing its 2019 slump Monday on investor concerns about how many cars it will sell going forward given the high sticker prices.

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