Hi Tech regulations on their way?
Reuters reported that Facebook shares dropped nearly 7%, wiping out around $40 billion from the company’s value. Other high tech stocks followed, but not as dramatically as Facebook (e.g. Apple shares dipped 1.5%). This was attributed to growing concerns about regulations that will sooner rather than later be imposed on the industry, to trim down its growing customer data monopoly and market power. A few days earlier we mentioned The Sherman Act. Changes in the legal and regulatory framework to put serious constraints on the large technology companies are badly overdue.