(Bloomberg) -- The U.S. Federal Trade Commmission will oversee antitrust scrutiny into whether Facebook Inc.’s practices harm competition in the digital market under an agreement with the Justice Department, according to a person familiar with the matter.
The move comes as the Justice Department and the FTC agreed to split up antitrust oversight of technology giants, with the antitrust division taking over scrutiny Alphabet Inc.’s Google and the FTC getting oversight of Amazon.com Inc.
Facebook dropped 6.2% to $166.53 as of 12:19 p.m. in New York trading.
To contact the reporter on this story: David McLaughlin in Washington at dmclaughlin9@bloomberg.net
To contact the editor responsible for this story: Sara Forden at sforden@bloomberg.net
