Alphabet's Stock Drops as Feds Push for Chrome Sale
Shares of Alphabet Inc. dropped 5.4% after the U.S. Department of Justice proposed a breakup of Google's search business, urging the sale of Chrome browser and changes to Android software. The stock's selloff is the biggest in 10 months. Prior to the selloff, the stock had gained 2% since the report of a potential Chrome sale. The outcome of the sale is uncertain, as it is unclear if the incoming Trump administration will continue to push for it. Alphabet's stock has rallied 19.2% year to date.