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Tech’s day of reckoning Tuesday on Capitol Hill started with skepticism about Facebook Inc.’s proposed digital currency, and ended with a spirited debate over charges of anti-conservative bias on Alphabet Inc.’s Google search. In between, the industry’s Big Four took plenty of body blows from both political parties.
Nonetheless, shares of the four companies that were placed under the microscope of three different Congressional hearings remained largely unchanged, underscoring their inexorable march to record market valuations, generally strong quarterly results and mounting influence on the global economy.
Facebook’s FB, -0.98% stock was flat at $203.84, and Alphabet GOOGL, -0.22% GOOG, -0.18% shares were up slightly to $1,153.46. Shares of Apple Inc. AAPL, +0.07% were flat at $204.50. Amazon.com Inc. AMZN, -0.48% was down 0.5% to $2,009.90. The quartet have a cumulative market valuation of more than $3 trillion.