Why Alphabet Stock Tumbled on Thursday
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Alphabet's stock fell nearly 2% on Thursday, outpacing the S&P 500's 0.6% decline, following a report that the Consumer Financial Protection Bureau (CFPB) may place Google under federal supervision. This would involve regular inspections and oversight similar to the banking sector. The report's timing raises questions, especially after the recent election of Donald Trump, who opposes excessive regulation. Both Alphabet and the CFPB declined to comment, suggesting potential legal challenges ahead if the report is accurate.
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