Why Alphabet Stock Tumbled on Thursday
A report from a top news outlet put a damper on Google parent Alphabet's (NASDAQ: GOOG)(NASDAQ: GOOGL) stock on the second-to-last trading day of the week. Citing two unidentified "people familiar with the discussions," the newspaper added that such a move would subject Google to measures such as regular inspections and close oversight -- similar to the situation with the banking sector. The CFPB, which was formed in the wake of the 2008-2009 financial crisis, has a broad mandate to protect consumers from predatory behavior from American companies.