- The Justice Department supported American Innovation and Choice Online Act and similar legislation banning large digital platforms from favoring their products and services over competitors, the Wall Street Journal reports.
- The DOJ saw the rise of dominant platforms like Amazon.com Inc (NASDAQ:AMZN) and Alphabet Inc’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google jeopardizing open markets and competition.
- Amazon, Google, Apple Inc (NASDAQ:AAPL), and others opposed the legislation arguing that it would make it harder to offer popular services.
- Big Tech also considered it fair for e-marketplaces, search engines, and app stores to profit off their creations’ popularity.
- The Biden administration’s support boosted the prospects for passing the legislation after clearing critical committees in the House and Senate.
- Price Action: FB shares traded higher by 0.41% at $224.50 in the premarket on the last check Tuesday.
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DOJ Supports Antitrust Bill Targeting Big Tech - Read Why: WSJ
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