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Tech stocks plunge amidst inflation concerns: Today’s stock market update

The Department of Justice (DOJ) has entered into a new monopoly trial against Google, accusing the tech giant of illegally stifling competition in the online search industry. In the opening argument, the DOJ claimed that Google has abused its monopoly in search for the past 12 years and deliberately manipulated contracts to ensure it remains the default search engine on devices like desktops and iPhones. This practice has allowed Google to gather massive amounts of data, making it difficult for competitors to compete fairly. However, Google’s defense attorney argued that consumers choose Google for its quality search results and that alternative search options are readily available for users to download on Apple and Android devices.

The trial represents the latest crackdown on big tech companies and could potentially set new limits on the power accumulated by US tech giants. The DOJ’s case revolves around the accusation that Google engaged in anti-competitive behavior by using its dominant position to restrict competition and monopolize the online search market. With evidence suggesting that Google knowingly manipulated contracts and stifled potential competitors, the government aims to prove that Google’s actions have violated antitrust laws.

One of the key arguments made by the DOJ is that Google’s strategy of being the default search engine on various devices allowed them to amass substantial amounts of user data, giving them an unfair advantage over competing search engines. By preventing rivals from accessing this crucial data, Google effectively limited competition in the industry. The defense, on the other hand, maintains that consumer choice is not impeded by defaults and users are free to choose alternative search options. As the trial continues, the outcome will have significant implications for not only Google but also the broader tech industry as regulators seek to rein in the power of dominant players.

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