Deals
Wall Street Pooh-Poohs ‘Nuclear Options’ for Facebook, Google
- AGF calls pro-business Senate a firewall against punishment
- But stocks aren’t rebounding; fear lingers government may act
This article is for subscribers only.
The U.S. government probably won’t go for “nuclear options” like forcing Alphabet Inc.’s Google, Facebook Inc. and Amazon.com Inc. to break up, analysts said. That may set up battered tech stocks for a rebound after antitrust fears erased more from $130 billion in market values Monday.
Any recovery was off to a tepid start on Tuesday, as Facebook shed as much as 2%, Google rose 0.8% and Amazon gained 0.9% in early trading. Other Internet names joined a broader market rally, with Apple Inc. rising as much as 1.9%. Netflix Inc., Snap Inc. and Twitter Inc. gained too.