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Alphabet CEO Sundar Pichai during a session at the World Economic Forum annual meeting in Davos, on January 22, 2020, Facebook founder Mark Zuckerberg at Georgetown University in Washington, D.C. on October 17, 2019, and Twitter CEO Jack Dorsey as he testifies before the Senate Intelligence Committee on Capitol Hill in Washington, D.C., on September 5, 2018.
fabrice coffrini/Agence France-Presse/Getty Images
House Democrats investigating the power of big technology firms are looking at possibly breaking up the companies, according to published reports.
Politico, which first reported the news, as well as Bloomberg News and Reuters, reported a memo from a Republican on the House antitrust subcommittee. According to the reports, Rep. Ken Buck, a Republican, says the Democrats are drafting ideas that would limit future acquisitions of giants such as Amazon AMZN, +2.37%, Google owner Alphabet GOOG, +1.89%, Apple AAPL, +3.07%, and Facebook FB, +1.81%. Buck said he agreed with some of the measures, while disagreeing with more far-reaching breakup proposals.
The Bloomberg report said one measure would block the giants both owning marketplaces and selling their own products on them.
The report from the Democrats, who are the majority on the committee, is expected imminently. Their ideas could turn into laws if, as polling suggests, Democrats also capture the U.S. Senate and the presidency in the coming election.
Nasdaq-100 futures NQ00, -0.35% were lower on Tuesday. The Nasdaq Composite COMP, +2.32% has soared 26% this year behind the strength of the world’s technology superstars.
