Alphabet's Stock Heads For Worst Day In 10 Months As Feds Push For Chrome Sale -- MarketWatch

Dow Jones11-21 23:12

Shares of Alphabet Inc. $(GOOGL)$ dropped 5.4% in morning trading, enough to pace the S&P 500 index's decliners, after the U.S. Department of Justice filed a document proposing a breakup of technology giant's Google search business. The stock's selloff was on track to be the biggest since the 7.5% selloff on Jan. 31. In documents filed late Wednesday, the DOJ urged a federal judge to push Google to sell its Chrome browser and force its Android smartphone software to stop favoring the Google search engine, as the Associated Press reported. The DOJ's plan was first reported on Monday by Bloomberg. Prior to Thursday's selloff, the stock had gained 2% since that report through Wednesday, as an actual sale of Chrome was viewed by many as unlikely. It was also uncertain if an incoming Trump administration would continue to push for the sale. The stock has rallied 19.2% year to date, while the S&P 500 has climbed 23.8%.

-Tomi Kilgore

For more from MarketWatch: http://www.marketwatch.com/newsviewer

This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.

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November 21, 2024 10:12 ET (15:12 GMT)

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The stock's selloff was on track to be the biggest since the 7.5% selloff on Jan. 31. In documents filed late Wednesday, the DOJ urged a federal judge to push Google to sell its Chrome browser and force its Android smartphone software to stop favoring the Google search engine, as the Associated Press reported. The DOJ's plan was first reported on Monday by Bloomberg. Prior to Thursday's selloff, the stock had gained 2% since that report through Wednesday, as an actual sale of Chrome was viewed by many as unlikely. It was also uncertain if an incoming Trump administration would continue to push for the sale. The stock has rallied 19.2% year to date, while the S&P 500 has climbed 23.8%. \n\n\n     -Tomi Kilgore \n\n\n  For more from MarketWatch: http://www.marketwatch.com/newsviewer \n\n\n     This content was created by MarketWatch, which is operated by Dow Jones & Co. 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