The department’s antitrust division will look at concerns that consumers, businesses and entrepreneurs have expressed about search, social media, and online retail, according to a statement Tuesday. The statement didn’t name any companies.
The announcement marks the latest sign of the escalating scrutiny facing tech companies in Washington from lawmakers and antitrust enforcers. The giants of the industry are under fire over massive collection of user data, failing to police content on their platforms, and claims that they are harming competition and reducing choices for consumers.
Shares of Facebook, Amazon and Alphabet all fell on the news. Facebook dropped 1.5%, Amazon was down less than 1%, in extended trading around 5:49 p.m. in New York, while Google and Apple rose less than 1%. Last week, executives from the four companies were grilled by the House antitrust panel, which is investigating whether dominant companies are thwarting competition and harming innovation.
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